Research shows that nearly a quarter of independent financial advisers plan to introduce artificial intelligence tools to provide services to clients in the next 12 months.
Pollster Opinium said 23% of IFAs intend to introduce this cutting-edge technology into their operations.
The research comes as Prime Minister Keir Starmer says the UK must become an artificial intelligence “superpower” and pledges to make public data available to researchers and create data hub zones.
Opinium research found that “the financial sector is already exploring” the technology.
But it added that advisers are “divided over whether artificial intelligence will help or hinder their businesses and industries”.
The report found that 57% of advisors do not believe AI will have a “positive or negative impact” on their firm, while 45% believe the potential impact of AI on the industry will be the same.
However, just over a quarter (or 27%) of advisors see AI as a risk, while the majority (or 56%) see it as an opportunity.
Alexa Nightingale, global head of financial services research at Opinium, added: “Independent financial advisers are slowly but surely adopting artificial intelligence into their practices, although most industries still have no intention of using artificial intelligence tools.
“Independent financial advisers remain divided on the benefits of artificial intelligence, and while some are cautious about the risks, it is encouraging that more than half see artificial intelligence as an opportunity.
“Artificial intelligence has the potential to support management and reporting tasks, streamline processes, etc., allowing consultants to have more time to provide more personalized advice to clients.
“Adopting these technologies can help firms stay ahead of the curve and help advisors provide better service to existing and new clients.”
Opinium conducted an online survey of 200 financial advisors between December 20 and January 7.
