Financial advisers are increasingly using artificial intelligence (AI), with 75% now viewing developments like ChatGPT as an opportunity for their business, up from 70% last year, according to Schroders’ UK Financial Adviser Survey 2024.
The survey, conducted between 23 October and 5 November, gathered responses from 293 advisers—marking an increase from 254 in 2023. Only 25% of respondents now perceive AI as a threat, a decrease from 30% last year. Over one in five (21%) have already implemented some form of AI in their advice process. Another 19% anticipate adopting it within the next year, and 41% foresee doing so in two to five years. However, the survey also shows a divide in sentiment, with 10% stating they never expect to use AI in their practice. Benchmark commercial director Gillian Hepburn noted this s...
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