Some 73% of UK investors believe that ChatGPT could give reliable financial advice in the future, according to a study by research firm The Nursery and advertisement agency AML Group.
The Investor Index study also found that 42% of younger investors (18-34 year-olds) already use the AI chatbot for advice.
ChatGPT currently has 100 million users with monthly website visits upwards of 1.8 billion, according to Reuters.
While it was expected for younger investors to be using the software, the research revealed that actually 54% of UK investors aged over 65 also believe ChatGPT could be the future of financial advice.
Just over two-thirds (34%) said that they would prefer to use a robo-adviser than a financial adviser.
Sarah Nunneley, senior strategist at AML Group, said: “While ChatGPT is currently not regulated, its perceived promise as a source of advice in the future across age groups is remarkable. This is most significant among younger investors but you would be amiss to dismiss this group as ‘just kids’, this can be people in their late 30s and 40s, with money to invest and confidence in their choices.
“The ‘new’ generation of investor is already here and they are looking at what is on offer, weighing up their options and it seems robo-advice and AI are coming up on top.”
