In the past two years, awareness of Robo Advisors has grown considerably. Use has expanded from 5.2 million households in 2016 to 8.6 million households in 2018. Nearly 45 million households say they would be willing to put money into an account for which a computer made the day-to-day decisions.

Watch this presentation by Larry Cohen, director of SBI's Consumer Financial Decisions and the MacroMonitor, to learn more about households that use a robo advisor.

If the embedded video does not display correctly, view it on YouTube's website.