More than four in ten Belgian investors have already used artificial intelligence (AI) tools for investment advice or are considering doing so, according to ING's investor barometer published on Friday. However, half of them fear potentially receiving poor advice.
The use of AI in investing appears to be inversely correlated with age – which is unsurprising, according to ING.
"Young people use AI more in their daily lives, and therefore it is not surprising that they also use it more for investment advice," the statement said.
In any case, human stock market specialists continue to be considered the most trustworthy. Six in ten investors trust a human stock market specialist more than AI or an AI-supported specialist.
The ING investor barometer climbed further in October to 104 points, above its neutral level of 100 points. Therefore, Belgian investors see the financial and economic environment evolving favourably.
Nearly four in ten investors consider it a good time to invest in less risky sectors, compared to three in ten in August.
Strong September
However, investors still do not have overly high expectations regarding economic growth, according to ING. Barely a quarter of the investors surveyed expect the Belgian economy to improve in the next three months, while 35% anticipate a deterioration in the economic situation.
"The strong September on the financial markets, fueled by the interest rate cut in the US, has undoubtedly contributed to stronger investor confidence," said Peter Vanden Houte, chief economist at ING Belgium.
"No fewer than 41% reported an increase in the value of their portfolio in the past three months, while 21% reported a less favourable development."
Lastly, more than four in ten investors believe that within ten years, the majority of investment funds will be managed entirely by artificial intelligence.
