Malaysian Investors Use AI but Value Human Expertise

Wealthy investors in Malaysia are actively integrating artificial intelligence into their financial and investment strategies, yet they continue to place significant value on human judgment. A recent survey conducted by Ipsos and commissioned by HSBC revealed that over half of respondents, specifically 58%, favor a collaborative approach between humans and AI when making financial decisions.

The HSBC survey, which polled approximately 10,000 affluent and high-net-worth individuals across 10 markets, found that 85% of Malaysian respondents utilize AI for their financial dealings. This high adoption rate positions Malaysia among the top three markets globally for AI use in finance, on par with mainland China and just behind India. Beyond finance, AI is also being employed for career and personal development at rates of 64%.

Despite the widespread use of AI, the survey indicates that confidence in human financial professionals and institutions remains robust. A substantial 65% of respondents still consider these professionals their primary source for investment ideas, and 39% see them as the most influential factor in their investment decisions, nearly double the influence attributed to AI tools at 16%.

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The future of banking lies in the seamless collaboration between AI-driven insights and human expertise.

Trust is cited as the main reason for this continued reliance on human experts, with 85% of respondents highlighting it, followed by strategic expertise at 76%. Key human roles identified as crucial include detecting errors in AI-generated data (31%), providing personal interpretations of complex data (31%), and evaluating and verifying information (30%).

Linda Yip, Head of International Wealth and Premier Banking at HSBC Malaysia, emphasized that while technology offers speed, human connection builds trust. She stated, "The future of banking lies in the seamless collaboration between AI-driven insights and human expertise." HSBC aims to leverage this synergy to help clients confidently navigate and grow within the increasingly complex financial landscape. The survey also noted that Gen-Z and Millennials are the most frequent users of AI for financial decisions, at 86% and 89% respectively, followed by Gen X at 85% and Baby Boomers at 78%.

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With AI-driven analytics matched with human connection, we aim to help our clients with confidence to understand, invest and hunt for growth in an increasingly complex financial landscape.