Almost one in four independent financial advisers plan to introduce artificial intelligence tools to service clients over the next 12 months, research shows.
Pollster Opinium says that 23% of IFAs intend to introduce this cutting-edge technology to their businesses.
The study comes as Prime Minister Keir Starmer says the UK must become an AI “superpower”, with promises to make public data available to researchers and create zones for data centres.
The Opinium study finds that the “financial sector had already begun to explore” the technology.
But it adds that advisers are “divided as to whether AI will help or hinder their business and the industry”.
The report finds that 57% of advisers don’t feel AI will have “a positive nor negative impact” on their firm, while 45% think the same about its potential impact on the industry.
However, just over a quarter, or 27%, of advisers perceive AI as a risk, while a majority, or 56%, view it as an opportunity.
Opinium global head of financial services research Alexa Nightingale adds: “Slowly but surely, independent financial advisers are adopting AI within their practices, although the majority of the industry still has no intention to utilise AI tools.
“Independent financial advisers remain divided as to the benefits of AI, and while some are cautious about the risks, it’s encouraging to see over half of advisers viewing AI as an opportunity.
“AI has the potential to support with admin and reporting tasks, streamline processes and more, giving advisers more time to deliver more personalised advice to clients.
“Embracing these technologies can help firms stay ahead of the curve, and help advisers deliver a better service to existing and new clients.”
Opinium carried out an online survey of 200 financial advisers between 20 December and 7 January.