economy
Investors still seek a human touch even with AI tools at hand: HSBC
Investors are still turning to the judgment of a professional adviser in their last investment decision, despite using AI tools, a HSBC survey found.
TL;DR
- Investors still prefer human financial advisors for final investment decisions, even with AI tools available.
- 62% of affluent and high-net-worth individuals surveyed use financial professionals as their main source of investment ideas.
- 37% of respondents cited human financial experts as having the greatest influence on their final decisions, three times more than AI.
- Reassurance, judgment, validation of AI data, and interpretation of complex data are key reasons for preferring human advisors.
- Gen Z (86%) and Millennials (82%) are leading AI adoption in financial and investment decisions, using it for risk identification and faster research.
- Nearly half of respondents feel AI has increased their confidence and willingness to take calculated risks.
- The impact of AI is more pronounced in markets like India, UAE, Malaysia, and Hong Kong, with a more measured approach in the U.S., Singapore, Taiwan, and the U.K.