Automation and High-Skill Labor Markets: Evidence from Robo-Advisors
Key Insights
- Does artificial intelligence substitute or complement high-skill labor? We study financial robo-advisors and their impact on the labor market for human advisors.
- Using novel data on robo-advisors and advisor employment, we find that robo-advisors increase, rather than reduce, human advisor employmen.
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@misc{ acaciamarkets-research-automation-and-high-skill-labor-markets-evidence-from-robo-a,
title = { Automation and High-Skill Labor Markets: Evidence from Robo-Advisors },
author = { SSRN },
year = { 2026 },
url = { https://papers.ssrn.com/sol3/papers.cfm?abstract_id=6660378 },
note = {Summarized and classified by AcaciaFund}
}
TY - GEN TI - Automation and High-Skill Labor Markets: Evidence from Robo-Advisors AU - SSRN PY - 2026 UR - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=6660378 ER -
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Overview
Does artificial intelligence substitute or complement high-skill labor? We study financial robo-advisors and their impact on the labor market for human advisors. Using novel data on robo-advisors and advisor employment, we find that robo-advisors increase, rather than reduce, human advisor employment.
To address endogenous adoption, we exploit cross-state regulatory entry costs interacted with a national financing shock affecting technology firms. States experiencing greater robo-advisor entry e
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