Robo-advisors, the latest trend in investment management is revolutionising the way people manage their finances. Using the latest in artificial intelligence and machine learning, these digital platforms are able to offer personalised, cost-effective and democratized financial services by leveraging big data, algorithmic portfolio management and providing personalized investment advice. In this paper, we aim to understand the technological backdrop of robo-advisors – how they make use of big data analytics and algorithmic portfolio management to enhance investment strategies. We also provide insights into the benefits of robo-advisors – such as lower fees, increased accessibility and personalised solutions as well as discuss the challenges associated with robo-advisors – the risks posed by data privacy issues & algorithmic bias and the regulatory compliance required. We also touch upon the market impact of robo-advisors – how these digital advisors are democratising investment and going against the traditional financial advisor model. This paper in the end aims to understand how robo-advisors have the potential to change the landscape of investment management and enhance financial inclusion in this digital-first modern economy.