Over 10% of investors reportedly use Chat-GPT-like AI tools to assist them in portfolio management
The latest Retail Investor Beat survey commissioned by the crypto trading and investment platform eToro revealed important trends in AI usage among investors.
One in ten investors (11% of respondents) used AI chatbots to help them choose and change the assets for their portfolios. Further 35% of global retail investors consider the idea of using AI technology to assist their investment decisions. At the same time, one in four respondents (40%) completely reject the possibility at the time.
The statistics differ greatly when segmented according to the respondents’ age groups. Thus, the group of 35-44 year-olds is the most open to AI-enabled investments (19%), while only 4% of those over 55 are using AI tools for their portfolio management.
As for the investment experience, the novices are not the most susceptible to the AI tools’ assistance, while 16% of investors with 3-10 years of experience are already implementing chatbots like ChatGPT in their investing agenda.
Among the 46% of retail investors who are either already using ChatGPT-style assistants or are open to the idea, the majority (61%) are ready to experiment with AI executing trades for them in the future.
The reasons investors consider AI usage include saving time on research and the ability of technology to make better, unbiased decisions. Moreover, 43% of AI proponents believe that artificial intelligence is the future of investing.
In addition, the majority of respondents are very bullish about the AI and technology sector in general. About 30% of those surveyed said they were going to invest more in tech startups this year, with more than a third (13%) of this group specifically singling out AI-related businesses.
The study surveyed 10,000 retail investors across 13 countries and 3 continents. The UK, the US, Germany, France, Australia, Italy and Spain had the largest representation (1,000 respondents), while the Netherlands, Denmark, Norway, Poland, Romania, and the Czech Republic hosted 500 respondents each.
