Could a chatbot solve the retirement savings problem?
Well, not by itself.
But according to a paper by behavioral economist Schlomo Benartzi, a Professor of Behavioral Decision Making at UCLA Anderson School of Management and a senior academic advisor to the Voya Institute for Behavioral Finance Innovation, when a chatbot and text messages, as well as targeted e-mails, are combined with the principles of behavioral economics—specifically, nudging people into certain actions—the effects on retirement savings can be substantial.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
