But a blended approach between AI and human touch is still favoured
Some 69% of UK investors would accept Artificial Intelligence (AI) support in proving investment advice, according to Avaloq.
The research revealed that 73% of the 500 UK investors surveyed would use AI for their portfolio’s performance data.
As 71% say they are comfortable using AI to provide product recommendations, a 8% rise since 2022.
However, over half (56%) of investor’s still favour a blended approach incorporating AI and humans, whilst 16% prefer a fully driven AI approach.
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Further, Avaloq surveyed 2,500 investors from five markets in Europe and Asia.
Findings suggest that these markets are more receptive than those in the UK, with 74% willing to use AI for some or all financial tasks compared to 69% of UK investors.
These results come as the UK hosts the AI Safety Summit, bringing nations together to discuss the risks of AI and how they can be mitigated.
Head of data science at Avaloq, Gery Zollinger, said:”Our research reveals that investors are more open to using AI in the investment process but still want the human touch, indicating natural opportunities for wealth managers to integrate AI into their offerings in a way that augments the service they provide.”