2 days ago
EY Says AI Could Broaden Financial Advice Without Replacing Advisors
Personalized money advice can be expensive, so many people may not be able to get it.
An EY India report says AI could help make this advice cheaper and reach more people.
It estimates that over 100 million additional people in India could start investing for the long term by 2035.
These people could include families in smaller cities, women and younger workers.
AI could help with routine tasks, like understanding someone's finances and risk preferences.
Human advisors could then spend more time helping people with difficult choices and important life changes.
The report does not say that AI should replace human advisors.
Instead, it says AI and people can work together, with safeguards for investors.
An EY India report says AI could lower the cost of personalized financial advice and make it available to more investors.
India could bring more than 100 million additional people into long-term investing by 2035, the report estimates.
Smaller-city households, women, young professionals and Gen Z could contribute to broader investment participation.
AI could automate routine work, including financial profiling and risk assessment, while advisors focus on complex decisions and client relationships.
The report says responsible AI adoption should preserve transparency, suitability, fairness and investor protection.
- Who
- EY India, financial advisors and investors in India.
- What
- A report says AI could make personalized financial advice more affordable and accessible while supporting, rather than replacing, human advisors.
- Where
- India, including smaller cities as well as larger investment markets.
- When
- The report estimates potential growth in long-term investing by 2035.
- Why
- A growing and diverse investor base may need affordable, personalized guidance to help people stay invested and build wealth over time.
Key facts
- Report source
- EY India
- Potential new long-term investors
- More than 100 million additional individuals
- Estimated horizon
- By 2035
- Groups highlighted
- Smaller-city households, women, young professionals and Gen Z
- Tasks AI could automate
- Financial profiling and risk assessment
- Safeguards emphasized
- Transparency, suitability, fairness and investor protection
Quotes
EY India report
The report cited in the article on AI and financial advice in India.
“Investors differ not only in their financial capacity but also in their life-stage priorities, risk tolerance, financial literacy, digital maturity, behavioral biases, language preferences and need for reassurance. In this environment, standardized investor education programs and one-size-fits-all product journeys are unlikely to deliver meaningful outcomes at scale.”
livemint.com
“The objective is not to replace human judgment, but to augment it and extend its reach, making high-quality guidance accessible to millions of investors who have historically remained underserved.”
livemint.com
Sources
Related news
Gen Z Uses AI to Invest, but Experts Urge Judgment
India’s Young Investors Challenge Wealth Managers to Earn Trust
India’s Digital Payments Boom Has Yet to Spur Investing
EY Sees 100 Million New Long-Term Investors Beyond Metros
Young Professionals and Women Reshape India's Investment Landscape
India Eyes Wider Wealth Participation Beyond Major Cities
Sanjay Dutt Says Controversial Peace Remark Was Scripted
Honda Launches XR300L and XR300 Rally in India
AFC Nations League Format Could Complicate India's World Cup Hopes
Jagtial Man Remains in Dubai Jail Over Unpaid Fine
Forlan Returns to Kolkata, Praises India’s Football Potential
