Paradigm has published the results of its first national survey looking at artificial intelligence (AI) use and understanding among brokers.
The survey set out to see how brokers are using AI, what they know, where they need support, and what opportunities or challenges they see as AI develops.
The research found that 75% of brokers said they understood how AI has evolved over the last 50 years.
81.7% had used AI tools such as ChatGPT or Copilot in the past three months.
45.1% said they understood the difference between open and closed data.
Brokers rated their businesses between 2.26 and 2.82 out of five for areas like data governance, workforce readiness, and having a clear AI plan.
Just under 30% said they were using AI for marketing, mainly for content ideas, design, or analytics.
Most brokers (86.75%) said they wanted to learn more about AI, especially in process efficiency, marketing, verification, customer experience and business development.
Richard Howes, director of mortgages at Paradigm Mortgage Services, said: “We thank everyone who completed the survey, which gives us great insight into the knowledge within our community around this subject.
“The fact that people want to know more about AI in all aspects of their business is really encouraging, and they see AI as something to walk towards rather than away from.
“Over the next few months, we’ll be producing information and guidance to help firms market their business using AI and Large Language Models, while also helping them protect themselves from the bad actors who will inevitably seek to exploit this technology.”
Howes added: “Our goal is to ensure businesses can embrace AI safely, effectively, and profitably.”
Richard Wilson, chief credit & money laundering reporting officer for OSB, said: “As we move into a new era of complexity, the use of technology is both a force for change but also enables bad actors to play more effectively in our markets.
“The key for the broker and lending community is to be attuned to the new AI risks and benefits that stand in front us.
“Authenticating the information, you receive is crucial as is ensuring the techniques you use to summarise or explain data/information are safe, trusted and understood.”
Karl Griffin, CEO and founder of JammJar, said: “The pace of AI innovation means this isn’t a ‘wait and see’ moment for brokers – it’s a fundamental shift. Customer expectations are evolving faster than ever, and the firms that embrace AI will be the ones who scale, attract talent, and deliver standout customer experiences.”
