The Polish financial supervisor (KNF), as one of the first countries in the European Union, developed a position on robo-advice. Such activities support the use of artificial intelligence in the process of investment advisory services. While robotization reduces costs and increases efficiency, appropriate regulations are necessary. One of the challenges is to legally secure liability for damages that may arise in connection with the use of artificial intelligence. "Even 10 years ago, when driving with navigation and with a passenger, when the navigation said'go straight', and someone sitting next to him said'take a turn', we would have turned. We didn't believe the technology was good enough. Today we will go straight. It is similar with artificial intelligence in the field of consulting. Today we will choose a human being because we believe that technology in this area is not good enough yet. In 10 years, we may choose a robotic advisor," Jakub Szpringer, a partner at KSZ Smart Legal - Karwasiński Szpringer i Wspólnicy, said.

You may have to pay to speak to a real person when you agree to hybrid human-robo management. Technically, you are always in charge of your finances, but you may not be willing to hand over your portfolio's reigns to a robot. A robo-advisor may not be a great fit if you want a more hands-on approach to online guidance. Even an algorithm is still the most sophisticated computer algorithm. It can't sit with you, it can't explain anything to you, and it can't listen to your future dreams.