The Swedish Financial Supervisory Authority published new survey results on consumer attitudes to using artificial intelligence for investment decisions and, together with the European Securities and Markets Authority, issued a warning against using AI tools as investment advice. The survey finds that one in three people aged 20–29 would consider making long-term savings decisions based on advice from an AI, compared with around one in four among 30–39-year-olds, while older age groups are more sceptical. FI highlights that AI-generated tips can appear tailored but typically fall outside the consumer-protection rules that apply to authorised financial firms, and may be based on outdated or incomplete information. The authorities advise consumers to use AI only as a complement to other sources, be sceptical of promises of quick gains, choose regulated alternatives, carry out their own risk assessment, and avoid sharing personal data with public AI tools.
Finansinspektionen 2025-03-25
Swedish Financial Supervisory Authority and ESMA warn consumers against relying on AI for investment advice
The Swedish Financial Supervisory Authority and the European Securities and Markets Authority warned against using AI for investment advice, citing consumer protection concerns. A survey showed younger consumers favor AI for long-term savings, despite risks of outdated or incomplete information. Authorities recommend using AI as a complement to regulated advice and caution against sharing personal data with public AI tools.