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Exploring the Innovation Diffusion of Big Data Robo-Advisor
| Content Provider | MDPI |
|---|---|
| Author | Tsai, Shuo-Chang Chen, Chih-Hsien |
| Copyright Year | 2022 |
| Description | The main objective of this study was to explore the current practical use of an AI robo-advisor algorithmic technique. This study utilizes Roger’s innovation diffusion theory as a basis to explore the application of robo-advisors for forecasting in the stock market by using an abductive reasoning approach. We used literature reviews and semi-structured interviews to interview representatives of fund companies to see if they had adopted AI big data forecasting models to invest in stock selection. This study summarizes the big data stock market forecasts of the literature. According to the summary, the accuracy of the prediction models of these scholars ranged from 52% to 97%, with the prediction results of the models varying significantly. Interviews with 21 representatives of these fund companies revealed that the stock market forecast model of big data robo-advisors have not become a reference basis for fund investment candidates, mainly because of the unstable model prediction rate, and the lack of apparent relative advantages and observability, as well as being too complex. Thus, from the view of innovation diffusion, there is a lack of diffusion for the robo-advisor. Knowledge occurs when an individual is exposed to the existence of innovation, and gains some understanding of how it functions. Thereby, when investors become more familiar with neural network-like stock prediction models, this novel AI stock market forecasting model is expected to become another indicator of technical analysis in the future. |
| Starting Page | 15 |
| e-ISSN | 25715577 |
| DOI | 10.3390/asi5010015 |
| Journal | Applied System Innovation |
| Issue Number | 1 |
| Volume Number | 5 |
| Language | English |
| Publisher | MDPI |
| Publisher Date | 2022-01-24 |
| Access Restriction | Open |
| Subject Keyword | Applied System Innovation Information and Library Science Robo-advisor Innovation Diffusion Theory Ai Big Data Forecasting Models |
| Content Type | Text |
| Resource Type | Article |
