A new survey by HSBC and Ipsos shows artificial intelligence (AI) has become a widely used tool among affluent and high-net-worth investors across 10 markets in Asia.
According to the survey, which surveyed around 10,000 individuals, Malaysia ranked among the top three markets for AI adoption in finance at 85%, level with mainland China (85%) and trailing only India (86%). Aside from finance, these investors are also using AI for work and career (64%) and for personal development (64%).
However, despite the strong interest in AI for finance, these investors still rank financial professionals and institutions as the leading source of investment ideas (65%) and the most influential factor in investment decisions (39%), more than double the influence of AI tools (16%).
When asked why investors turn to financial professionals and institutions when making financial decisions, 85% cite reassurance and 76% cite strategic expertise. This includes spotting mistakes in AI-generated data (31%), providing personalised interpretation of complex data (31%) and applying judgement and validation (30%).
“Technology gives us speed, but human connection builds trust. The future of banking lies in a seamless partnership between AI-driven insights and human expertise. By pairing advanced analytics with human relationships, we aim to support our clients with the confidence to navigate, invest and pursue growth in an increasingly complex financial landscape,” said Linda Yip, Country Head of International Wealth and Premier Banking, HSBC Malaysia.
Across the generations surveyed, Gen-Z(aged 21-29) and Millennials (aged 30-45) make up the heaviest users of AI for financial and investment decisions, at 86% and 89% respectively, followed by Generation X (aged 46 to 61) at 85% and Baby Boomers (aged 62-69) at 78%.
