UAE investors lead world in AI use, HSBC Finds
98% of UAE investors now use AI tools, but most still want human advice on big calls
#UAE #investing — UAE investors are the world’s heaviest users of artificial intelligence tools, with 98 percent using AI in their daily lives, according to a new survey by global bank group HSBC. The Human-AI Advantage report, based on a survey of 9,993 affluent and high-net-worth individuals across 10 markets including 703 in the UAE, found 83 percent of UAE investors use AI specifically for finance and investment decisions, against a global average of 73 percent. Despite that, UAE investors still prefer human financial advisers to validate decisions before committing money.
SO WHAT? — Following more than a year of reports citing the high level of AI use by individuals in the UAE, it comes as no surprise that investors use AI heavily. However, it’s interesting to note that heavy use hasn’t replaced investor trust in human advisers. 56 percent of UAE investors prefer a hybrid model, combining AI tools with expert advice, which is above the global average and compares to just 38 percent of American investors that share this preference. The data suggests that AI adoption could actually increase demand for advisers rather than reducing it.
KEY POINTS:
UAE investors lead the world in AI adoption, with 98 percent using AI tools in daily life, tied with India for the highest rate among 10 markets surveyed by global bank HSBC, compared with 76 percent in the UK and 75 percent in the US.
83 percent of UAE investors use AI specifically for finance and investment purposes, against a global average of 73 percent, according to HSBC’s Human-AI Advantage report.
UAE investors rely on AI most for analysis and research, cited by 78 percent, and for supporting investment strategies, cited by 61 percent, the second-highest level among the markets surveyed.
63 percent of UAE investors said AI helps them better understand calculated risks, behind only India at 64 percent, and well above the US (44 percent) and UK (39 percent).
UAE investors attributed an average of 36 percent of their investment returns over the past 12 months to AI-supported decisions, above the global average of 33 percent.
56 percent of UAE investors prefer a hybrid model combining AI tools with human advisers, versus a global average of 50 percent, while 39 percent use AI for initial research before validating findings with a professional adviser.
74 percent of UAE investors said AI is improving their quality of life, compared with a global average of 63 percent, and 36 percent said AI has broadened their professional horizons.
The survey results coincide with HSBC’s rollout of its Wealth Intelligence platform for advisers, powered by a large language model drawing on more than 10,000 data sources including HSBC research.
[Written and edited with the assistance of AI]
Source: HSBC