New Delhi, Oct 10 (IANS) Eight in 10 financial planner firms are using artificial intelligence or plan to adopt it within the next 12 months, up from six in 10, a report said on Saturday.
The report from FPSB India said AI is rapidly moving into the mainstream of the profession and is already boosting capacity and efficiency.
The findings, drawn from a global survey of over 8,000 financial planners across 37 countries including India found 93 per cent of planners felt improved work efficiency, 52 per cent cited increased operational efficiency and 49 per cent said they are able to serve more clients.
“AI is rapidly transforming how financial information is created, accessed and consumed. While the technology offers significant opportunities to improve efficiency and broaden access to financial planning, information alone is not enough,” said Ramesh Vishwanathan, CEO, FPSB India.
“Financial decisions require context, judgment and an understanding of an individual’s goals, priorities and circumstances. As AI becomes more widely used, the role of qualified financial planning professionals in helping consumers interpret information in individual context and make informed decisions becomes even more important,” he added.
Nearly 70 per cent respondents believed AI can improve access to financial planning for underserved populations, while 68 per cent expect it to help lower the cost of services.
Nearly 83 per cent believed AI will help them better serve clients, up from 78 per cent in 2025, while 75 per cent expect it to improve the quality of financial planning services, up from 60 per cent.
Already 33 per cent of planners report clients using AI for general financial education, while 25 per cent see clients using it to validate or compare professional advice.
—IANS
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