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So Money with Farnoosh Torabi

Bonus: How Will Robots Change Our Financial Lives?

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.71.9K Ratings

🗓️ 25 February 2021

⏱️ 33 minutes

🧾️ Download transcript

Summary

How do you feel about the idea of robots playing a bigger role in our financial lives? What does that even mean? I recently teamed up cloud computing firm Oracle to ask over 9,000 consumers and business leaders around the globe about their thoughts on the relationship between money and tech — specifically AI (artificial intelligence) and robots. What we discovered is that two in three people (67%) say they trust robots more than humans with their money. And 8 in 10 consumers think automated tools will replace personal financial advisors in the coming years. Joining me today to discuss all of this for this special bonus podcast brought to us by Oracle, is Kimberly Ellison-Taylor, who has a diverse background in finance and technology; she is currently an executive director at Oracle and previous to Oracle she held positions at NASA’s Goddard Space Flight Center and Motorola. She and I discuss the benefits of leveraging technology in our financial lives and what this trend means for advisors. Kimberly also shares personal stories of her upbringing and what drove her to the field of tech and science. To learn more about the survey visit www.oracle.com/moneyandmachines More about Kimberly: She is a global technology and finance leader with over 29 years of career achievements. She is a sought-after keynote speaker and has received many awards and recognitions for her expertise and leadership, including Accounting Today's “Top 100 Most Influential People in Accounting” and CPA Practice Advisor's “25 Most Powerful Women in Accounting.” For the last 16 years, Ellison-Taylor has served in global leadership roles for Oracle Corporation and also currently advises C-Suite executives on cloud solutions that innovate and transform business. She is also an adjunct professor for Carnegie Mellon University’s Chief Information Officer Certificate program, teaching courses in Emerging Technologies & Innovation. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Bonus so money episode, how will robots impact our financial lives?

0:06.1

You're listening to so money with award-winning money guru,

0:09.2

Farnoosh Narapi. Each day in a 30 minute dose of financial

0:13.2

inspiration from the world's top business minds, authors, influencers,

0:17.5

and from Farnoosh herself. Looking for ways to save on gas or double your double

0:22.9

coupons? Sorry, you're in the wrong place, seeking profound ways to live a

0:27.5

richer, happier life. Welcome to so money. A lot of us are looking forward to

0:34.8

if we're not already, to leveraging machines to help us with retirement plans,

0:40.1

to help us with goals such as buying a house, or really moving to another location,

0:46.9

geography-wise. And so we think machines will be in a much better position to give us

0:52.4

the just the facts, ma'am, on whether or not we should pursue a purchase.

0:58.4

Welcome to so money, everybody. I'm your host, Farnoosh Tarabi.

1:01.9

How do you feel about the idea of robots playing a bigger role in our financial lives?

1:07.6

I mean, what does that even mean? Well, I recently teamed up with cloud computing firm Oracle

1:12.4

to ask over 9,000 consumers and business leaders around the globe about their thoughts

1:18.3

on the relationship between money and tech, specifically artificial intelligence, AI,

1:23.8

and robots. And what we discovered is that two in three people, 67%, say this,

1:30.4

they trust robots more than humans with their money. Is this you? And 8 and 10 consumers think

1:37.3

automated tools will replace personal financial advisors in the coming years. So why is this?

1:44.4

Well, joining me today to discuss this complex topic and to break it all down.

1:49.0

It's a special bonus podcast brought to us by Oracle, my guest is Kimberly Ellison Taylor,

1:54.9

who has a diverse background in finance and technology. She's currently an executive director

...

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