Which concept involves using algorithms to allow financial services to operate with minimal human oversight?

The concept of using algorithms to allow financial services to operate with minimal human oversight is best represented by the idea of a roboadvisor. Roboadvisors utilize algorithms to provide automated financial planning services with minimal human intervention. They typically gather information from clients through an online survey and then use this data to offer advice, manage assets, and create investment portfolios based on algorithms and predefined strategies. This automation significantly enhances efficiency and scales financial services to a broader audience by reducing the need for personalized customer interaction.

In contrast, other concepts do not encompass this specific aspect of automated, low-intervention financial services. Negligent investing refers to the lack of care in investment decisions; algorithmic trading focuses more on executing trades based on algorithms rather than offering comprehensive financial advice, and crowdsourced financial analysis implies the gathering of insights and opinions from a broad range of individuals rather than automating the investment advice process. Therefore, the principle of a roboadvisor aligns perfectly with the automatic, algorithm-driven approach intended to streamline financial services.