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HSBC has launched an AI platform for its relationship managers in Malaysia to analyse and summarise investment data, following a bank-commissioned survey showing that 85% of affluent Malaysian investors use AI for finance.
However, 58% still prefer a combination of AI and human expertise when making financial decisions.
Commissioned by HSBC and conducted by Ipsos, the survey covered around 10,000 affluent and high-net-worth individuals across 10 markets.
Malaysia ranked among the top three markets for AI adoption in finance at 85%, level with mainland China and trailing India at 86%.
Despite high AI usage, financial professionals and institutions remain the leading source of investment ideas for 65% of Malaysian respondents.
Human advisors also have a greater influence on financial decisions, with 85% seeking reassurance and 76% relying on their strategic expertise.
Trusting humans to catch AI errors
Human oversight remains particularly important when investors use AI-generated information. Around 31% rely on financial professionals to spot mistakes in AI-generated data, while another 31% value personalised interpretations of complex information. A further 30% seek human judgement and validation of AI findings.
Linda Yip
“Technology gives us speed, but human connection builds trust. The future of banking lies in a seamless partnership between AI-driven insights and human expertise,”
said Linda Yip, Country Head of International Wealth and Premier Banking at HSBC Malaysia.
“By pairing advanced analytics with human relationships, we aim to support our clients with the confidence to navigate, invest and pursue growth in an increasingly complex financial landscape,”
Yip added.
Generational adoption and risk appetite
Millennials are the heaviest users of AI for financial and investment decisions at 89%, followed by Gen Z at 86% and Generation X at 85%. Baby Boomers report an adoption rate of 78%.
Overall, 58% of Malaysian respondents prefer a hybrid approach to financial decision-making.
Among Gen Z investors, AI is used to analyse portfolio performance by 61% and generate new investment ideas by 57%. For Millennials, both tasks are cited by 53% of respondents.
AI adoption also appears to be influencing investor sentiment. 57% say the technology makes them feel more in control of their investments, compared with 21% who feel less in control.
More than half, or 54%, say AI makes them more willing to take calculated risks, more than double the 25% who say it makes them more cautious.
To support this hybrid approach, HSBC Malaysia has launched Wealth Intelligence, a generative AI platform that analyses data from the bank’s Chief Investment Office, market commentary and unit trust funds.
Designed for internal use by relationship managers, the platform aims to provide timely and relevant information to support client conversations.
Wealth Intelligence does not itself provide investment advice or recommendations to customers.
Featured image credit: Edited by Fintech News Malaysia, based on image by HSBC