AI has continued to entrench itself in the investment space, with 75% of UK investors believing that ChatGPT could provide reliable financial advice in the future, according to research from the AML Group and The Nursery.
Already, one of six investors aged 45 to 54 have used ChatGPT for advice in the past year.
The study also found an increase in investor confidence, at the highest level since the study began in 2020. While the pre-pandemic benchmark number for investor confidence was set at 100, it now sits at 105, an increase of 17 points from last year.
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The confidence boost has been reflected in 40% of those surveyed increasing the amount they have invested in the past 12 months, with 66% choosing long-term strategies.
Sarah Nunneley, senior strategist at AML Group, said: “Investors have retained the self-reliance they gained navigating the past few years. With this confidence also emboldened by external market uplifts, creating not just a return in confidence, but a true revival. A new, more robust type of investor.”
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Despite gain in conviction, a third of investors reported concern of political instability. Yet the perceived impact of the Russia/Ukraine war on returns has dropped 45.5 percentage points since 2022, to 30%. In addition, the impact of inflation has decreased 25.9 percentage points to 40% since 2022, and concerns of cost of living dropped 20.4 percentage points to 39% in the same period.
Within the UK, investors believe a change in power will be beneficial to investments, with 65% of all investors claiming it will have a positive impact, increasing to 85% among investors aged 18 to 44.
The research, which was conducted in April and May of 2024, surveyed 1,100 investors with at least £10,000 invested.
