Artificial intelligence is changing affluent and high net worth investor attitudes, with 39% saying it makes them more willing to take calculated risks, according to a new report.
Younger investors were most likely to report AI having made them more willing to take risks. Gen Z (59%) and Millennial (58%) investors were more willing to take risks compared to Gen X (41%) and Baby Boomers (40%).
Over the last 12 months, 90% of investors told HSBC that AI tools have influenced a portion of their portfolio returns, attributing an average third (33%) of returns to AI’s influence.
Among high-net-worth investors, AI use was higher for finance and investment tasks (82%) and 59% said it makes them feel more in control. Less than one in 10 (9%) said AI has not meaningfully changed how they manage their wealth.
Despite increasing use of AI, investors still wanted the judgment of a professional adviser before acting. Four in five (80%) said they were looking for reassurance from their adviser, with 72% citing strategic expertise.
When asked where their last investment idea came from, 62% mentioned financial professionals and institutions, compared with 32% who cited AI. That gap widens at the point of commitment, with 37% citing financial professionals and institutions as the most influential factor in their last investment decision – three times more than AI (12%).
The most valued adviser contributions included applying judgement and validation (32%), spotting mistakes in AI-generated data (29%) and providing a personalised interpretation of complex data (28%). Investors primarily used AI for analysis and research (66%), strategy support (50%), and to provide a second opinion on their ideas (31%).
Barry O’Byrne, CEO of international wealth & premier banking at HSBC, said: “Clients are increasingly using AI to explore their options, but when it comes to making investment decisions, they value judgement, context, and accountability from a trusted wealth adviser.”
HSBC surveyed 9,993 affluent and high net worth investors between the age of 21 and 69 online between 6 January and 6 February.