The Financial Conduct Authority (FCA) is warning households relying on advice from AI chatbots could put their investments at risk.
A survey by the watchdog of adults aged between 18 and 40 who own investments, or are considering making investments in the next year, found 56 per cent trusted AI tools to help make financial decisions.
Four in five investors classed as “less experienced” have used AI to make investment decisions.
Shorts
Around 38 per cent of people also believed it was fine to make an investment purely on the basis of AI advice.
