The evolution of financial technology: A comprehensive bibliometric review of robo-advisors

Abstract

This bibliometric study delves into the rapidly evolving domain of robo-advisors—digital platforms that offer automated, algorithm-driven financial planning services with minimal human intervention. Utilizing a robust dataset extracted from Scopus, the research employs the PRISMA flow chart methodology for meticulous screening, inclusion, and exclusion of relevant studies. Advanced bibliometric analysis tools such as Biblioshiny, VOSviewer, and CiteSpace are employed to conduct the analysis, facilitating a multifaceted examination of the literature. The findings of this study are extensive and informative, covering various aspects of the research on robo-advisors. It highlights the annual scientific production, identifying trends and growth patterns within the field. The study also spotlights the most productive authors and sources, shedding light on the leading contributors to the discourse on robo-advisors. Furthermore, it provides insights into the most globally cited documents, author cocitations, and keyword co-occurrences, revealing the core themes and discussions shaping this area of study. Significantly, the research identifies keywords with the strongest citation bursts and offers network visualizations of cited authors, showcasing the dynamic interactions within the academic community. Timezone and timeline views of cited journals and country collaborations offer a geographical and temporal perspective on the research landscape. Through these analyses, the study uncovers identified research gaps and practical implications, guiding future investigations and the practical application of robo-advisors in the financial industry.