More than half of UK investors have used AI for investment guidance with around six in 10 saying they would be comfortable allowing AI to choose where to invest their money, research conducted by Opinium, in partnership with the Investment Association, has shown.
Gen Z are the most likely to use the new technology to guide their investment decisions, with almost eight in 10 using AI to find out more about investing.
In particular, they are using it to ask questions, understand financial language and explore investment decisions in a way that feels accessible and convenient.
The survey of 2,000 people found Millennials were just behind, with three-quarters of respondents in the age category having previously used AI to find out more about markets.
These figures plummet dramatically among older people, however, with less than half (47%) of Gen X and 17% of Baby Boomers on board with using the technology for investment purposes.
Three in five Gen Zers said they are likely to use AI to choose where to invest their money, with more than half of Millennials also happy to do so.
Miranda Seath, director of market insight and fund sectors at the Investment Association, said: “AI has already reshaped the way consumers are learning about investing and this change is likely only to accelerate over the rest of the decade.
“The extent to which younger investors trust AI is striking and the survey data suggest that familiarity with using AI builds confidence in its outputs. However, ensuring information is accurate, verifiable and up to date remains a key concern for investors.”
Indeed, half of investors said they would not trust AI for information, although this is largely weighted to older people, with less than one in three Gen Zers highlighting this concern.
Additionally, those who have already used AI before are more likely to trust it. From this cohort, nearly three quarters said they trusted AI, suggesting familiarity builds confidence.
James Nicandrou, associate director at Opinium, added: “While younger investors are clearly more comfortable using AI than older generations, trust still depends on transparency. Investors want to know that information is accurate and easy to verify.”
Seath noted that this “underlines the importance of continuing to provide information that is clear, accurate and up to date” regardless of whether customers are using AI tools or whether they are engaging directly through face-to-face interactions.
Nicandrou added that clear safeguards and signposting will be crucial to helping people use these tools confidently and responsibly, particularly when it comes to financial decision-making.