It was 1950 when Alan Turing developed a test which looked at a machine's ability to generate responses that were so human-like that you wouldn't be able to tell it was a computer. Fast forward almost seven decades, and we are now at a tipping point in tech, as artificial intelligence (AI) nudges us into the so-called fourth industrial revolution. While there are many reasons to be excited about the potential of these witty machines, any excitement is often drowned out by the fear that we are heading towards an apocalypse of AI's making. We hear people cry in the streets, as these clever machines set about to harvest our organs. Except this is not the Matrix.

UK-based fintech Wealth Wizards has launched Turo, a new artificial intelligence (AI) solution that, according to the firm, "will provide access to faster, cutting-edge robo-advice for the entirety of the advisory sector; from the smallest advisory firm and independent financial adviser to the largest multi-national". Set up in 2009, Wealth Wizards says it has "pioneered" the development of expert online regulated financial advice in the UK. It was the first in the UK to launch a white-label robo-adviser, working with retirement specialist LV (which as of August 2015 holds a majority stake in Wealth Wizards). The company's aim is "to make financial advice affordable and accessible to everyone". In addition to its existing offerings (including a robo-paraplanner tool that supports "at-retirement" advice), it can now offer multiple services available through its white label Smart Platform powered up by Turo.

Automated financial advice delivered by computer algorithm - often dubbed robo-advice - is a fast-growing business. But should you entrust your life savings to a computer? For many of us, talking about money is embarrassing - revealing our income and spending habits can feel like disrobing in public. So it's no wonder seeking investment advice from an impersonal, unbiased computer program is proving so popular. Consultancy firm Accenture found that 68% of global consumers would be happy to use robo-advice to plan for retirement, with many feeling it would be faster, cheaper, and more impartial than human advice.