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...

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