Malaysia's affluent investors embrace AI
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Malaysia's affluent investors are leading the world in embracing artificial intelligence (AI) for financial and investment purposes, according to HSBC Bank Malaysia Bhd. A bank survey found that over half of these investors prefer a combination of AI and human expertise. The study, conducted by Ipsos Asia Ltd for HSBC, surveyed 9,993 affluent and high-net-worth investors across 10 markets, including Malaysia, China and India.
Despite high AI adoption, financial professionals and institutions are still the primary source of investment ideas, cited by 65% of respondents and influencing decisions at a 39% rate. Among those who use financial professionals and institutions, 85% cited reassurance as a key reason, while 76% valued their strategic expertise.
HSBC Malaysia's country head of international wealth and premier banking, Linda Yip, highlighted that technology provides speed and efficiency, while human interaction remains crucial for building trust. The bank aims to combine AI-driven insights with human expertise to support clients in navigating the complex financial landscape.
Millennials and Gen Z are the heaviest users of AI for financial decisions, with 89% and 86% respectively, while Baby Boomers are less likely to use AI, at 78%. Despite high AI use, the survey found that it does not remove the need for professional insights within any age group.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
