{"title":"Application of chat bots for personalized financial advice","authors":"Vitaliy M. Kobets, Kyrylo H. Kozlovskyi","doi":"10.15276/hait.05.2022.18","DOIUrl":null,"url":null,"abstract":"Chat bots are web-based systems that have recently received a lot of attention due to their ability to provide professional financial advice at a lower cost than a human advisor. We considered anthropomorphic design of chat bot as a positive impact on human perception, which is an important factor in human-computer interaction, because increasing the level of anthropomorphism of the system can potentially compensate for the lack of contact with a person. The influenceof the anthropomorphism effect and anthropomorphic design of the bot on the feeling of social presence, trust, and the desire to follow recommendations are investigated.High cost of financial advice, the volatility of markets and problems with finding professional financial advisors have created favourable conditions for the use of robo-advisors. Due to the growing popularity ofrobo-advisors andchat bots, new opportunities appeared for banks for attracting new customers. There are a large number of chat bots that can provide financial advice, butusually, these are complex solutions and they require quite a lot of time to work with them, so if the user's goal is to get a quick and specific answer, such solutions are not the best option.The goal of our research is to develop a Telegram chat bot for personalized financial advice. To meet this goal we need consider examples of chat bots advisors for potential investorsto analyse available software solutions for financial advisors and create our own software product for personalized financial advice.Research methods includeanalytical mathematical methods and technologies, such as Python, Telegram Bot API, Aiogram, Docker, Amazon Web Services, EC2, and UbuntuServer. We created our own software product, a telegram bot for automated financial consultations to achieve the goals of private investors by calculating constant level of consumption during determined periodunder expected inflation rate to decide whether invest or not. Our telegram bot provides option for receiving financial advice and helping potential investors with capital distribution.","PeriodicalId":375628,"journal":{"name":"Herald of Advanced Information Technology","volume":"17 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2022-10-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Herald of Advanced Information Technology","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.15276/hait.05.2022.18","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 1
Abstract
Chat bots are web-based systems that have recently received a lot of attention due to their ability to provide professional financial advice at a lower cost than a human advisor. We considered anthropomorphic design of chat bot as a positive impact on human perception, which is an important factor in human-computer interaction, because increasing the level of anthropomorphism of the system can potentially compensate for the lack of contact with a person. The influenceof the anthropomorphism effect and anthropomorphic design of the bot on the feeling of social presence, trust, and the desire to follow recommendations are investigated.High cost of financial advice, the volatility of markets and problems with finding professional financial advisors have created favourable conditions for the use of robo-advisors. Due to the growing popularity ofrobo-advisors andchat bots, new opportunities appeared for banks for attracting new customers. There are a large number of chat bots that can provide financial advice, butusually, these are complex solutions and they require quite a lot of time to work with them, so if the user's goal is to get a quick and specific answer, such solutions are not the best option.The goal of our research is to develop a Telegram chat bot for personalized financial advice. To meet this goal we need consider examples of chat bots advisors for potential investorsto analyse available software solutions for financial advisors and create our own software product for personalized financial advice.Research methods includeanalytical mathematical methods and technologies, such as Python, Telegram Bot API, Aiogram, Docker, Amazon Web Services, EC2, and UbuntuServer. We created our own software product, a telegram bot for automated financial consultations to achieve the goals of private investors by calculating constant level of consumption during determined periodunder expected inflation rate to decide whether invest or not. Our telegram bot provides option for receiving financial advice and helping potential investors with capital distribution.
聊天机器人是一种基于网络的系统,最近受到了很多关注,因为它们能够以比人类顾问更低的成本提供专业的金融建议。我们认为聊天机器人的拟人化设计对人类感知有积极的影响,这是人机交互的一个重要因素,因为增加系统的拟人化水平可以潜在地弥补与人接触的不足。研究了机器人的拟人化效果和拟人化设计对社会存在感、信任感和遵循建议的愿望的影响。财务建议的高成本、市场的波动性以及寻找专业财务顾问的问题,为使用机器人顾问创造了有利条件。由于机器人顾问和聊天机器人的日益普及,银行吸引新客户的新机会出现了。有大量的聊天机器人可以提供金融建议,但通常,这些都是复杂的解决方案,他们需要相当多的时间来处理它们,所以如果用户的目标是得到一个快速和具体的答案,这样的解决方案不是最好的选择。我们研究的目标是开发一个提供个性化理财建议的Telegram聊天机器人。为了实现这一目标,我们需要考虑为潜在投资者提供聊天机器人顾问的例子,以分析可供财务顾问使用的软件解决方案,并创建我们自己的软件产品,提供个性化的财务建议。研究方法包括Python、Telegram Bot API、aigram、Docker、Amazon Web Services、EC2、UbuntuServer等分析数学方法和技术。我们创建了自己的软件产品,一个用于自动财务咨询的电报机器人,通过在预期通货膨胀率下计算确定期间的恒定消费水平来决定是否投资,从而实现私人投资者的目标。我们的电报机器人提供了接收财务建议和帮助潜在投资者分配资金的选择。