Affluent and high-net-worth investors in Malaysia are among the world’s strongest adopters of artificial intelligence for finance and investment. However, despite the growing use of AI tools, human expertise remains an important part of their financial decision-making.
A new survey commissioned by HSBC and conducted by Ipsos among around 10,000 affluent and high-net-worth individuals across 10 markets found that 85% of Malaysian respondents use AI for finance.
Malaysia ranked among the top three markets surveyed for AI adoption in finance, level with mainland China at 85% and behind only India at 86%. The figure also exceeded the global average of 73%.
Beyond finance and investment, Malaysian respondents are also using AI for work and career purposes (64%) and personal development (64%).
Yet, as AI becomes increasingly embedded in financial decision-making, the survey found that investors are not looking to replace human expertise altogether. More than half, or 58%, said their ideal approach to future financial decision-making would involve a partnership between AI and human expertise.
Financial Professionals Remain the Leading Source of Investment Ideas
Despite strong AI adoption, financial professionals and institutions continue to play a leading role in how affluent and high-net-worth Malaysians approach investing.
According to the survey, 65% of respondents identified financial professionals and institutions as their leading source of investment ideas.
They were also considered the most influential factor in investment decisions, cited by 39% of respondents, compared with 16% who cited AI tools.
For investors, the value of human expertise appears to lie in areas where professional judgement, experience and personalised interpretation remain important.
Among those who turn to financial professionals and institutions when making financial decisions, 85% cited reassurance, while 76% pointed to strategic expertise.
Respondents also valued the ability of professionals to spot mistakes in AI-generated data (31%), provide personalised interpretation of complex information (31%), and apply human judgement and validation (30%).
Linda Yip, Country Head of International Wealth and Premier Banking at HSBC Malaysia, said the future of banking would depend on combining technological capabilities with human relationships.
“Technology gives us speed, but human connection builds trust. The future of banking lies in a seamless partnership between AI-driven insights and human expertise,” she said. “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.”
Gen Z and Millennials Lead AI Adoption for Investment
AI adoption for financial and investment decisions is particularly strong among younger generations.
The survey found that Millennials aged 30 to 45 were the heaviest users of AI for financial and investment decisions at 89%, followed by Gen Z respondents aged 21 to 29 at 86%.
Generation X respondents aged 46 to 61 followed at 85%, while 78% of Baby Boomers aged 62 to 69 reported using AI for financial and investment purposes.
However, high AI adoption across generations does not mean investors are moving away from professional insights.
The findings showed continued support for a Human-AI partnership across age groups, with 58% of respondents in Malaysia preferring this combined approach for future financial decision-making.
Among Gen Z investors, AI was particularly valued for analysing portfolio performance (61%) and generating new investment ideas (57%).
For Millennials, 53% used AI for analysing portfolio performance, while the same proportion used it to generate new investment ideas.
The findings suggest that younger investors are increasingly using artificial intelligence as a tool to explore information and opportunities, while still recognising the importance of professional expertise when making financial decisions.
AI Is Changing How Investors Feel About Their Decisions
The growing use of AI also appears to be influencing how affluent and high-net-worth investors view their ability to manage investments.
More than half of respondents, or 57%, said AI makes them feel more in control of their investments. In comparison, 21% said it makes them feel less in control.
AI may also be influencing investors’ appetite for risk.
The survey found that 54% said AI makes them more willing to take calculated risks, more than double the 25% who said it makes them more cautious.
These findings point to the growing role AI can play in helping investors access information, analyse financial data and explore potential investment opportunities. At the same time, the continued preference for human expertise suggests that access to more data does not necessarily remove the need for reassurance, validation and professional judgement.
HSBC Malaysia Advances Its Human-AI Approach
HSBC Malaysia is advancing this Human-AI hybrid approach through the launch of Wealth Intelligence, a generative AI-enabled platform designed to analyse and summarise insights from multiple data sources.
These include HSBC Chief Investment Office house views, market commentary and comprehensive analysis of unit trust funds.
The platform is intended to help HSBC Relationship Managers prepare for more effective and valuable customer conversations by providing personalised, data-driven insights that are timely, relevant and practical.
By strengthening the capabilities of Relationship Managers with AI-generated information, HSBC aims to combine advanced analytics with human expertise to support conversations around customers’ financial and investment decisions.
The Wealth Intelligence platform is designed for internal use by Relationship Managers and does not itself provide investment advice or recommendations directly to customers.
As artificial intelligence becomes more widely used across Malaysia’s financial and wealth management landscape, the survey suggests that the future of financial decision-making may not be defined by AI replacing people.
Instead, for many of Malaysia’s affluent and high-net-worth investors, the preferred model is one where AI provides speed, data and insights, while financial professionals contribute the judgement, strategic expertise and human reassurance needed to make more informed financial decisions.
