Singapore’s mass affluent and high-net-worth investors are among the world’s most active users of artificial intelligence ( AI ) for finance and investment decisions, yet they remain cautious about relying on technology alone, according to a recent survey.

Notably 76% of Singapore investors use AI for finance and investment-related tasks, exceeding the global average of 73%, finds the survey on behalf of HSBC, which was conducted by Ipsos based on responses from 609 investors in Singapore and was part of a broader study of nearly 10,000 mass affluent and high-net-worth investors across 10 markets.

AI, rather than replacing financial advisers, is increasingly being used to complement professional advice, with investors seeking human validation before making major investment decisions.

Adoption of AI is particularly strong, the survey highlights, among Singapore’s wealthiest investors. Nine in 10 respondents with at least US$2 million in investable assets say they use AI for investment purposes, ahead of the global average of 82%.

These investors estimate that AI contributed an average of 40% of their investment returns over the past year, compared with 31% across all Singapore respondents, while 65% say the technology made them feel more in control of their investments.

One of the most notable findings is that AI adoption in Singapore extends well beyond younger investors. Among Generation X and baby boomers, 72% report using AI for financial purposes, significantly ahead of their global counterparts at 65% and 59% respectively. AI has quickly become, the results suggest, an established research tool across multiple generations of investors in Singapore.

Hybrid approach

Despite the high level of adoption, investors remain measured in how they use the technology. Only 8% of those surveyed say AI is the single most influential source behind their most recent major investment decision, compared with 12% globally; while 43% say AI has increased their appetite to take calculated investment risks, below the global average of 49%.

Instead, investors are using AI primarily to strengthen their own analysis before consulting professional advisers. Nearly seven in 10 respondents use AI for research and analysis, while 44% use it to support investment strategy and 34% to test their own ideas. Once that research is complete, 79% turn to advisers for reassurance and 71% for strategic expertise.

The preference for combining technology with professional advice is also clear. Four in 10 Singapore investors say they favour generating AI insights before those ideas are reviewed by an adviser; while 57% prefer AI and advisers working together throughout the investment process, above the global average of 50%.

“Our new data tells us that Singapore investors are using AI in their financial decision-making with discipline,” notes Ashmita Acharya, HSBC Singapore’s head of international wealth and premier banking. “They are doing more of their own analysis, arriving at conversations better prepared and expecting more of the professional advisers who help them as a result. That is not a challenge to the adviser relationship model, it is setting a higher bar for what good advice looks like.”