Purpose: The purpose of this work is to analyze investors as well as analysts' views on the development of technology in Automated Trading recommendations in the stock market. Theoretical framework: The study is based on The Efficient Market Hypothesis.

Method: The methodological framework of this thesis have included both a quantitative and qualitative approach. A deductive approach has been used.

Empirical framework: Data was obtained from 206 members of the Swedish share savers association (Aktiespararna) plus 4 semi-structured interviews with advisers and analysts.

Analysis: Data shows average investors do not trust, and are reluctant to take advice, from Robo-advisors but higher percentage of technically savvy traders rely on Robo-advisors. Most analysts perceive no threat to robo-advisor replacing their job. In fact they believed it could replace advisors job. Advisors believed the opposite.

Conclusion: 67 % of the investors surveyed believed that in five years Roboadvisors will completely replace human advisors despite the fact that 82 % still liked and trusted recommendations made by humans more. Financial operators see Robo-advisors as a tool rather than threat and plan to integrate it in their own business.