As artificial intelligence (AI) develops at an alarming rate, investment-related chatbots and other operations are becoming more active, but even rich people in their 30s and 40s who are accustomed to using AI find it difficult to act as the final decision maker. This means that even if AI is advanced, it will remain as an auxiliary and analysis tool because it is unclear who will be responsible for the investment failure.
On the 14th, Hanwha Life Inheritance Research Institute surveyed 790 people in their 30s and 40s with an average total assets of 4.64 billion won on their intention to manage AI financial assets, and 75.8% preferred partial use or collaboration with private bankers (PB) rather than fully entrusting AI with asset management. The purpose is to actively refer to AI’s analysis and recommendation, but not to pass the final decision.
54.9% of the total said, “We will refer to AI’s analysis and recommendation, but make the final decision directly.” 20.9% preferred a collaboration method in which financial company PB reviewed and proposed AI analysis. If the rate of return is verified, only 4.8% said they would fully entrust AI with financial asset management. 12.2% said they were skeptical of AI asset management due to algorithm limitations, and 7.2% said they were not willing to use AI because they were reluctant to convert asset information into data. The Inheritance Research Institute analyzed, “Although the intention to use AI was high, the response was focused on using it as an analysis tool or adding expert review to the extent that they could control it rather than a full delegation.” In the end, it is explained that the asset management that Young & Rich want is not an alternative to ‘AI or human’, but a method of combining AI’s analytical power with human expert’s judgment.
In fact, the role they expect from AI was more of portfolio management and analysis than “taking a picture of the item.” Of the 637 people who are willing to use AI, 32.8% said they most expect 24-hour real-time monitoring and risk management. Big data-based market analysis (29.0%) and consistent investment judgment (27.9%) that were not influenced by emotions also accounted for a high proportion. Only 8.0% of the respondents said they expected cost-effectiveness, such as reducing fees. In other words, there is a strong tendency to view AI as a tool to quickly organize vast amounts of information and monitor risks.
There are also lingering concerns and concerns about AI. The biggest concern was the risk of personal financial information and data leakage, accounting for 30.8%. When investment losses occur, 23.9% of respondents said the responsibility was unclear, 22.0% of the algorithm’s lack of transparency, and 18.4% of AI system errors or hacking risks. This means that expectations for analysis ability and trust in entrusting actual assets are viewed as separate issues. An official from the financial sector said, “Recently, more and more asset owners are using AI to analyze the performance and financial statements of interest,” but added, “It is an atmosphere that only refers to decision-making.”
[Reporter Cha Changhee]
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