Only 6% of IFAs are currently using any Artificial Intelligence (AI) tools in their services to clients, new research from global research and insights agency Opinium reveals.
This low uptake of the technology comes despite half (49%) of IFAs thinking that AI presents an opportunity for their business.
Views on the use of AI among IFAs more generally is mixed, however, with almost a third (32%) believing that AI is a risk to their business. In terms of impact, over a quarter (27%) think AI will have a positive impact on their business, but 23% think artificial intelligence will have a negative impact on the advice industry as a whole.
Alexa Nightingale, Global Head of Financial Services research at Opinium commented: “With the use of AI tools becoming more widespread, now is a better time than ever for IFAs to start getting comfortable with how best to integrate this technology into their day to day practices. It’s clear that advisers have mixed feelings about the rise of AI and the impact it could have on the industry and their businesses – but given it is unlikely artificial intelligence is going anywhere, it’s key that advisers get on board.”
