Artificial intelligence is changing the way financial advisers operate, according to research house Investment Trends.

About 37% of surveyed advisers are using AI tools to improve efficiency and another 43% are interested in integrating AI into their practices, its annual technology needs report found.

The survey findings show AI adoption is on the rise, Investment Trends says.

“AI is transforming the financial advisory landscape by automating routine tasks and providing deeper insights through data analytics,” associate research director Ludovic Sevestre said. “Advisers who embrace AI will be well-positioned to offer more efficient and personalised services to their clients, gaining a competitive edge. Providers that develop AI tools to enhance client interactions and strategic decision-making will lead the way in this evolving landscape.”

While advisers are keen to use AI, cybersecurity is an area of concern. About 21% rate security among the three most important factors when choosing an investment platform, surpassing brand and education.

“Security is paramount in protecting client data and maintaining trust,” Mr Sevestre said. “Advisers are increasingly prioritising cybersecurity in their technology investments, recognising it as a cornerstone of their service offering.”