The data is in. Humans trust robots more than other humans… at least when it comes to our finances.

We’ve all heard someone we know expressing growing concern about robots taking over our jobs… and well, eventually the world. We humans are an ironic bunch after all, and it turns out we actually trust robots more than other humans… at least when it comes to our finances.

In a recent study by Oracle including 9,000 business leaders and consumers from 14 countries, seven of the 10 respondents (67%) admitted to trusting robots more than other human beings, when it comes to their finances that is. Before we get ahead of ourselves and start jumping to conclusions (as humans generally do), let’s figure out what these findings actually mean.

Let’s start out with what the term “robot” actually refers to - it can mean anything from a machine learning algorithm to an application. With this definition, believing in people’s increasing trust in robots over humans becomes an easier pill to swallow - after all, most of us use some kind of app to calculate expenses on a daily basis.

Business leaders claimed to trust robots.

If we get back to the study, the stats become more telling the deeper we dig; 77% of business leaders claimed to trust robots more than their own finance teams, and 73% of these business leaders also admitted to trusting robots more than themselves in terms of managing finances. 53% of consumers concurred, and said they trust robots more than themselves when it comes to managing finances. Next to this, 63% of consumers even admit to trusting these technologies over human financial advisors. It turns out that almost a quarter of consumers believe these technologies can help them better save, as well as further invest their money. Now, we can’t be sure these consumers didn’t watch The Wolf of Wall Street before taking this survey, but the survey results are pretty telling regarding people’s views and trust in human members of the financial community. While consumers may be seeking “robotic assistance” at increasing rates, this isn’t to say that they believe or even want robots to replace humans, they just wish to incorporate their advice when making financial decisions.

Read the full article here.

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