Majority of IFAs 'concerned' about artificial intelligence

Three in five believe regulations on use of AI tools should be made stricter

Sahar Nazir
clock • 2 min read

The majority (85%) of IFAs have some concerns around artificial intelligence (AI) and machine learning in financial advice, according to research and insights agency Opinium.

As a result, more than three in five (61%) said regulations around the use of AI tools in the financial advice sector should be made stricter. This is according to Opinium's research carried out among 200 advisers between 17 and 21 November 2023. The study found that 41% of IFAs have not used or implemented AI tools such as ChatGPT in their services to clients yet but would consider doing so within the next year. Only 4% have already implemented AI tools in their services to clients. More than one third (35%) of IFAs said they would never consider using AI tools in their work. H...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Andrew Goodwin: Investing, gambling and the importance of the long game

Andrew Goodwin: Investing, gambling and the importance of the long game

'Remember that in investing, as in sport, there are no certainties'

Andrew Goodwin
clock 01 September 2025 • 4 min read
Why gender inequality in financial advice is no joke

Why gender inequality in financial advice is no joke

'Gender inequality is a joke that has long since worn thin'

Cara Robinson
clock 01 September 2025 • 4 min read
Professional Adviser TV: Tackling 'horrendous' letter of authority delays

Professional Adviser TV: Tackling 'horrendous' letter of authority delays

‘LOAs could be really magical’

Professional Adviser
clock 29 August 2025 • 2 min read