Only 6% of independent financial advisers (IFAs) use any artificial intelligence (AI) tools in their services to clients, research from Opinium has revealed.
This low uptake of the technology was despite half (49%) of IFAs stating that AI presented an opportunity for their business.
Views on the use of AI among IFAs more generally was mixed, however, as almost a third (32%) said that AI is a risk to their business.
In terms of impact, more than a quarter (27%) said AI will have a positive impact on their business, but 23% reported that AI will have a negative impact on the advice industry as a whole.
Alexa Nightingale, global head of financial services research at Opinium, said: “With the use of AI tools becoming more widespread, now is a better time than ever for IFAs to start getting comfortable with how best to integrate this technology into their day to day practices.
“It’s clear that advisers have mixed feelings about the rise of AI and the impact it could have on the industry and their businesses – but given it is unlikely artificial intelligence is going anywhere, it’s key that advisers get on board.”
