The lack of trust that clients have in artificial intelligence (AI) means the uptake of robo-advisers remains limited, Avaloq has found.
Its research conducted among more than 300 wealth managers and 3,000 clients globally found that just 6% of affluent to ultra-high net worth clients currently use robo-advisers. Client trust still remains low with AI, the research found, as 24% UK wealth managers believe their clients could never trust AI for investment and 27% said their clients would never trust AI when it comes to financial planning. This caution is echoed by UK investors, as only 7% would feel comfortable fully relying on AI for investment advice, versus 38% who would support a hybrid approach with AI tools suppor...
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