Financial platform LearnBonds estimates that the global industry of automated robotic investment advisors (robo-advisors) will reach the volume of USD 1.4 trillion, which would be a 47% increase compared to 2019.The platform believes that the industry will grow up to USD 2.5 trillion by 2023 due to consistent increase of investment in robo-advisor technology and interest from leading global financial corporation.Kommersant reports that first robo-advisors appeared in 2008, when small investors sought asset managers with minimal commission fees due to the financial crisis. U.S.-based startups Betterment and Wealthfront were the first to offer the service, and since then, the number of robo-advisors has reached several hundred.Robo-advisor uses software and mathematical algorithms that enable it to recommend investment options depending on current situation in the market, the investor’s funds and wishes regarding the investment behavior strategy, level of risk, preferences for investment areas, etc.Most deals are done in the U.S. (USD 1 trillion) at the moment. China registers the second largest number of transactions via robo-advisors (USD 312bn). The top ten of the robo-advising market’s biggest players also includes UK (USD 24bn), Germany (USD 132bn), and Canada (USD 8bn).LearnBonds analysts point out that more clients will turn to robotic systems in investment as the robotic and automated systems grow and develop in retail banking industry.Only 13 million people used robo-advising in 2017, but now the number has grown fivefold and reached 70.5 million. Thus, the number of robo-advisor users increased by over 50% annually. This dynamic allows experts to estimate that by 2023, the world will have 147 million robo-advisor users.Leading global financial corporations started considering robo-advising recently. For instance, Citigroup has announced the launch of digital investment platform Citi Wealth Builder, designed for retail investors in the United States. To start using the platform, current Citi clients only need USD 1,500.Previously, leading U.S. banks such as JPMorgan Chase, Wells Fargo, Bank of America and Morgan Stanley announced the launch of robo-advising services.The study was conducted before the coronavirus pandemic, so the indicators provided in the material may be corrected.The partner of Fintech section is Tweet Views 16147