Wealth managers are continuing to back artificial intelligence as integral to the future of their work despite an increasing distrust towards the technology from clients, according to research from Avaloq.
A survey of over 400 wealth managers found that for two-fifths (40%) of UK respondents, their clients would never trust the use of AI in investment advice, an increase from a quarter (24%) in 2024. An equal percentage (40%) said clients would never trust AI in financial planning, compared to 28% of respondents in 2024. The trend was also visible internationally, said Avaloq, with 30% of wealth managers globally saying clients would never trust AI for investment decisions or financial planning – an increase from 25% and 21%, respectively, in 2024. However, this has not discouraged U...
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