KUALA LUMPUR, Aug 11 — Affluent and high-net-worth investors in Malaysia are increasingly using artificial intelligence (AI) tools for financial and investment decisions, but more than half still prefer a combination of AI and human expertise, according to a new HSBC-commissioned survey.

The survey of around 10,000 affluent and high-net-worth individuals across 10 markets, conducted by Ipsos, found that 85 per cent of Malaysian respondents use AI for finance, placing Malaysia among the top three markets for AI adoption alongside mainland China, also at 85 per cent, and India at 86 per cent.

Beyond finance, 64 per cent of Malaysian respondents said they use AI for work and career purposes, while the same proportion use it for personal development.

Despite the high adoption rate, financial professionals and institutions remain the leading source of investment ideas, cited by 65 per cent of respondents, and the most influential factor in investment decisions at 39 per cent — more than double the influence of AI tools at 16 per cent.

The survey found that 85 per cent of respondents turn to financial professionals and institutions for reassurance, while 76 per cent value their strategic expertise.

This includes spotting mistakes in AI-generated data (31 per cent), providing personalised interpretation of complex data (31 per cent) and applying judgement and validation (30 per cent).

HSBC Malaysia Country Head of International Wealth and Premier Banking Linda Yip said technology provided speed while human connection built trust.

“The future of banking lies in a seamless partnership between AI-driven insights and human expertise. 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,” she said.

AI use was highest among Millennials aged 30 to 45 at 89 per cent, followed by Gen Z respondents aged 21 to 29 at 86 per cent, Generation X aged 46 to 61 at 85 per cent and Baby Boomers aged 62 to 69 at 78 per cent.

However, the findings showed that AI adoption had not eliminated the need for professional insights across any age group.

Overall, 58 per cent of respondents in Malaysia said their ideal approach to future financial decision-making involved a partnership between humans and AI.

Among Gen Z respondents, the preferred uses included analysing portfolio performance (61 per cent) and generating new investment ideas (57 per cent), while Millennials recorded 53 per cent for both tasks.

The use of AI also appeared to influence investors’ confidence and risk appetite, with 57 per cent saying AI made them feel more in control of their investments, compared with 21 per cent who felt less in control.

More than half, or 54 per cent, said AI made them more willing to take calculated risks, more than double the 25 per cent who said it made them more cautious.

HSBC Malaysia is also advancing its human-AI approach through Wealth Intelligence, a generative AI-enabled platform that analyses and summarises insights from various data sources, including HSBC Chief Investment Office house views, market commentary and analysis of unit trust funds.

The platform is designed to help Relationship Managers have more effective and valuable conversations with customers by providing timely, relevant and practical data-driven insights.

HSBC said Wealth Intelligence-generated insights are for internal use by Relationship Managers and do not themselves provide investment advice or recommendations to customers.