The majority (73%) of clients believe that artificial intelligence (AI) service ChatGPT could provide reliable financial advice in the future.
This is according to an annual study by Investor Index conducted among 1,100 UK adults with a minimum of £10,000 invested. Although 42% of younger investors (18-34) said that they had already used ChatGPT for advice, the study also revealed that over half (54%) of clients aged over 65 said that ChatGPT could be the future of financial advice. Over onethird of clients said that they would prefer to use a robo-adviser rather than a traditional financial adviser. AML Group senior strategist Sarah Nunneley said: "While ChatGPT is currently not regulated, its perceived promise as a sour...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
