Analysis | AI: Already all around us, and touching many aspects of business and everyday life

For many people, the expression “artificial intelligence” might still seem like scary science fiction, conjuring up images of a world run by faceless machines and robots.

Experts still say it is likely to be some time before it replaces you or your colleagues, but the fact is that AI in its various forms is already all around us and penetrating many aspects of business and everyday life.

Let’s start with your (days mainly digital, these days) wallet.

The yuan’s recent depreciation has prompted more people to search for investment products that offer better yields. But instead of going to a bank, queuing for hours and being offered simple advice from a salesperson, many have been turning to their mobile devices to search for more convenient alternatives online.

So called “robo-advisers”, a label for digitised asset management websites or apps that offer financial guidance and investment services based on algorithms, are fast becoming a popular option.

While not exactly talking to a robot, users are advised based on a simple questionnaire.

Tap in your age, background, assets and risk tolerance, and algorithms deliver options that might best suit, explains Zheng Yudong, chief executive of Xuanji, the robo-advisory unit of Chinese financial technology platform Pintec Group.