Oden says advisors can also help investors cut through the noise. “We live in a society of data overload,” she says. “You need a professional to help you navigate this problem. And all the data we are getting is adding to the complexity of our lives.”

She adds, “Information is not advice.”

Young investors are embracing AI to a far greater degree than older investors. The HSBC survey found that 63% of Gen Z and millennial investors say AI has boosted their confidence and decision-making compared with just 31% of Gen X and baby boomer investors.

There is also a divide between U.S. investors and their global peers: 57% of affluent investors in the U.S. report using AI for financial and investment tasks compared with 73% of affluent investors globally, according to the survey. Oden notes an interesting dichotomy: Many of the best known artificial intelligence companies are based in the U.S., but when it comes to using AI for financial and investment tasks, American investors are lagging behind their global peers.

The HSBC study surveyed about 10,000 affluent and high-net-worth individual investors in 10 markets: China, Hong Kong, India, Malaysia, Mexico, Singapore, Taiwan, the U.A.E., the U.K. and the U.S. It defines affluent investors as individuals with at least $100,000 in investible assets and high-net-worth investors as individuals with at least $2 million in investible assets.

Write to Andrew Welsch at andrew.welsch@barrons.com