According to HSBC's survey of approximately 10,000 affluent and high-net-worth individuals across 10 markets, 62% rely on financial professionals as their primary source for investment ideas. Notably, 37% indicated that human experts significantly influence their final investment choices, compared to only 12% who cited AI.
The preference for human advisers stems from their ability to apply judgment, validate information, and interpret complex data, which AI currently cannot replicate. Younger investors, particularly Gen Z and Millennials, are more inclined to use AI, with 86% of Gen Z and 82% of Millennials incorporating AI into their financial decisions.
However, their use of AI is primarily for identifying risks and expediting research rather than making final decisions. The survey also noted that nearly half of the respondents feel more confident in taking calculated risks due to AI, especially in regions like Asia and the Middle East, where the impact is more pronounced.
In contrast, investors in the U.S., Singapore, Taiwan, and the U.K. exhibit a more cautious approach. Barry O'Byrne, CEO of International Wealth & Premier Banking at HSBC, emphasized that while clients are exploring options with AI, they still value the judgment and accountability that comes from trusted wealth advisers