Advisers now view AI as opportunity for firms rather than a threat

Many think AI could be useful for efficiency and automation

Sahar Nazir
clock • 1 min read

The majority (70%) of financial advisers now view artificial intelligence (AI) technology applications such as ChatGPT as an opportunity rather than a threat to their business, according to Schroders.

The proportion of advisers who think that the development of AI is important to their business has risen to 70% from 57% in May. This is according to the Schroders UK Financial Adviser Pulse Survey 2023 which was conducted among 254 advisers between 20 October and 6 November 2023. Moreover, 85% of advisers said they now anticipate incorporating AI-based technology applications in their advice process in some way in the future, whilst 17% expect to incorporate AI within the next 12 months. The majority (63%) of advisers think AI could be useful for efficiency and automation, whilst ...

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