A robot can drive you to work, but can it advise you on your finances?

The founding father of artificial intelligence Marvin Minsky once said that his ultimate goal was not so much to build a computer he could be proud of as to build one that would be proud of him. MIT Sloan Professor Andrew Lo mentioned this anecdote in a recent piece about financial advisers in The Wall Street Journal. In essence, he poses the question: Can a robot do the job?

Andrew LoLo says that while tech-savvy millennials would be just as happy interacting with an app as with a human adviser, robo advisers can’t take into account the emotion of investors. “When the stock market roils, investors freak out,” Lo explains. “They need comfort and encouragement.” During the recent stock-market rout, he notes that Vanguard Group was so besieged with calls from jittery investors it had to pull staff from across the company to handle the call volume. “Investing is an emotional process,” Lo says, and “robo advisers don’t do emotion.” At least not right now.

Integrating human feeling into the digital advising process is probably the greatest challenge of financial technology. Lo likens the present state of digital financial advising to a rotary phone in an iPhone world. He points out that investing is much more complex and nuanced than tasks like driving, “which is why driverless cars are already more successful than even the best robo advisers.”

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Augmented Reality Summit at MIT Media Lab brings the world’s AR pioneers together on the AR frontier

ARAugmented reality (AR)—a cousin to virtual technology—is quickly making itself indispensable in fields like medicine, architecture, industrial design, and entertainment, especially gaming. For those interested in leveraging the possibilities of AR, MIT’s annual Augmented Reality Summit is the center of the known universe.

AR in Action takes place at the MIT Media Lab January 17 and 18, 2017. The summit convenes the top minds in the augmented reality ecosystem, a diverse group of renowned thought leaders, visionaries, Fortune 100 executives, futurists, technologists, and AR practitioners, including Ethernet inventor Bob Metcalf and personal computer pioneer Alan Kay. Together, they will explore the challenges and opportunities that face inventors, integrators, investors, and other innovators working to bring the benefits of AR to the world.

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