Affluent segment leads in AI adoption for finance
A survey by HSBC reveals that Malaysia's affluent individuals are among the world's top adopters of AI for financial decision-making. While these investors use AI to feel more in control, they still prioritize human professional judgment for strategic oversight.
Why it matters
It highlights the evolving relationship between retail investors and AI, showing that high-net-worth individuals prefer a hybrid model of machine efficiency and human expertise.
PETALING JAYA: Malaysia’s affluent and high-net-worth individuals (HNWIs) rank among the highest in adopting artificial intelligence (AI) for finance, according to a survey commissioned by HSBC.
About 85% of Malaysia’s surveyed affluent and HNWIs widely use AI tools in finance, level with mainland China (85%) and trailing only India (86%). The global average stood at 73%.
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. This is followed by Gen X (aged 46 to 61) at 85% and Baby Boomers (aged 62-69) at 78%.
AI use also appears linked to shifts in sentiment among these investors. About 57% say it makes them feel more in control of their investments, compared with 21% who say it makes them feel less in control.
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