Just 6% of independent financial advisers (IFAs) have said they currently use artificial intelligence (AI) tools in their service to clients, despite half (49%) thinking that it presents an opportunity for their business.
A survey of 2,000 IFAs by Opinium found that views on AI among IFAs is mixed, with almost a third (32%) believing that AI is a risk to their business.
In terms of impact, over a quarter (27%) think AI will have a positive impact, but 23% think that AI will have a negative impact on the advice industry as a whole.
Global head of financial services research at Opinium, Alexa Nightingale, 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."
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