Wealthy Investors Want AI-Driven Financial Guidance, New Data Shows
Among the 71% who use an advisor, only a third are completely satisfied with their advisor's performance in the last year, according to the Forbes Research 2025 High Net Worth Survey, which was fielded between April and May. The study surveyed 250 people globally with over $2 million in investable assets.
New Forbes survey data reveals that high-net-worth individuals are seeking AI-driven tools and ... More high-tech financial advice.
So, which investing skills and tools do the wealthy value now? For one thing, they're looking for advisors who leverage advanced technology, such as artificial intelligence.
Ahead, explore the survey's key findings on how HNWIs' investing and financial advisor priorities are changing.
What's Driving The Decline In Investor Confidence?
Forbes asked respondents if recent market volatility has increased their trust in their financial advisor to take a more active role in managing their portfolio. A little over half of respondents said yes, down from 89% last year.
In addition to decreased trust, overall investor dissatisfaction extends to other areas of HNWIs' wealth strategies, with respondents expressing lower confidence in their estate plans (down 24%), tax efficiency (down 28%) and inflation-proofing (down 41%), compared to 2024.
The Edge For Investors: Innovation As The New Standard
The data revealed that HNWIs are recalibrating their definition of a 'good financial advisor,' with innovation influencing their new standard.
Among the wealthy, the modern expectation for financial expertise is increasingly AI-driven, forward-looking and proactive.
HNWI are also integrating AI into their own strategies to stay ahead of market trends and make more informed decisions. A staggering 97% now use AI-driven tools in their investment strategies, up from 74% in 2024.
Wealthy investors are not only placing trust in disruptive technologies; they also view innovation as essential to keeping up in today's uncertain economic times.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNET
21 minutes ago
- CNET
Your OnePlus 13 Will Get a Dedicated AI 'Mind Space' in Update Rolling Out Now
It's a non-negotiable right now that every phone-maker out there must have a plan for integrating AI into its devices. OnePlus is a little late to the party, but it's arrived nonetheless. Back in May, the company announced plans for bringing its own vision of personalized AI to OnePlus phones, and from this week, it's rolling out to the OnePlus 13 and 13R. At a launch event in London earlier this year I not only got to see the first AI features to land on OnePlus phones in action, but also learn about what the company's future plans are for bringing more complex and sophisticated AI features to its phones down the road. With all Android phone-makers increasingly making use of best-in-class Qualcomm chips and relying on Google's Gemini AI, having a strong AI strategy is one way they can set themselves apart from rivals. I was impressed with how far OnePlus seems to be thinking ahead and not rushing into going ham on AI. Its initial AI rollout will likely capture people's attention, even if its ideas aren't entirely original. The OnePlus 13's upcoming "Mind Space." Katie Collins/CNET OnePlus' statement AI tool is called Plus Mind, which can save, suggest, store and search based on what's currently on your phone screen, ultimately depositing the details in an app OnePlus is calling "Mind Space." Plus Mind can be activated at any time, either by a dedicated button (if your phone has one) or by a swipe-up gesture. If it spots details of an event or reservation, it will propose creating a calendar entry. Mind Space is a place to "organize your fragmented memories," said Arthur Lam, the company's director of OxygenOS and AI strategy. This is a hub where all of your most important content will live. AI search will allow you to find what you need without the information overload you may be used to, or it will automatically translate content into another language to make it accessible and searchable. Plus Mind will debut with the upcoming launch of the OnePlus 13S, a phone designed specifically for the Asian market, which comes with a dedicated AI button (the "Plus Key," as OnePlus is calling it) on the side of the phone. That means for those of us in the US and Europe, we'll have to wait a little longer to enjoy OnePlus' vision for AI ourselves. It will eventually be rolling out to the OnePlus 13 as an over-the-air update later this year, although the company is yet to confirm exactly when. The Plus Key on the OnePlus 13S. Katie Collins/CNET Plus Mind and Mind Space: My first impressions On the OnePlus 13, which shipped before the addition of the Plus Key, you instead have to use a three-fingered swipe up from the bottom edge of the screen to activate the AI features. When I tested this in person, it was hit or miss as to whether I could get it to work. There's definitely a knack to it -- you need to start from a couple of centimeters above the lower rim -- and there's a high chance of accidentally displacing what's on the screen. It's clear that OnePlus designed Plus Mind to be used with a dedicated button, and no doubt all future OnePlus phones will feature a Plus Key of their own. It is a shame in retrospect, though, that the key is missing from its most widely available 2025 flagship phone. After using Plus Mind to save a variety of content, I had mixed opinions on how useful it was. The process of capturing and creating events out of details displayed on screen was seamless, and I found that I was able to use natural language within Mind Space to pull up the details of these events after the fact. But when saving articles I thought were interesting, Mind Space wasn't able to provide a summary of the entirety of what I'd been reading -- only of the specific text that was on screen at the time I activated Plus Mind. OnePlus' natural language search within Mind Space worked well for me. Katie Collins/CNET I also struggled to organise the content into collections within Mind Space. This is a manual process, rather than a situation in which the AI takes over to categorize everything you've saved. This feels a little like a missed opportunity. Like other Android phone makers, OnePlus has the benefit of tapping into the best of Google's Gemini phone tools, while also choosing what additional features it wants to bring to its phones to make them stand apart from its competitors. That said, its initial foray into AI with Mind Space is bound to draw comparisons to what Nothing is doing with Essential Space -- its own dedicated hub for saving content, snippets, links and reminders. What's next for OnePlus AI? Plus Mind and Mind Space are just the first part of OnePlus' three-stage AI strategy. Next up is integrating a large language model into Plus Mind, allowing your phone to understand your habits to create a "persona" it uses to understand you. "It will help you understand yourself," said Lam, and could even help you discover something "surprising" or "enlightening" about yourself. Stage 3 is when OnePlus plans to go full AI agent, turning into a personal assistant that can know everything about you. But the company's not quite there just yet. In the meantime it has a few other ideas in the pipeline. Coming first to India (again, not the EU or the US), are AI VoiceScribe, which will provide you with a quick summary after your call on WhatsApp, Snapchat or Telegram, and AI Call Assistant, which provides you with in-call translation in both text and voice. On the more playful side, OnePlus is introducing two AI photo tools. The first, AI Best Face 2.0, will allow you to correct the faces of up 20 people in a group photo so that everyone is looking their best (if they have their eyes closed, for example, or what OnePlus describes as a "suboptimal expression"). AI Reframe, meanwhile, will analyze your carelessly shot holiday snaps and suggest creative cropping and framing to make it look like you weren't three cocktails deep when you shot them. These photo features will be come to OnePlus phones this summer, but for the major OnePlus AI tool rollout, you might have to wait a little longer.
Yahoo
27 minutes ago
- Yahoo
Modernization of Cross-Border Trade event draws industry experts to Laredo, TX
In the ever-evolving landscape of cross-border trade between the U.S. and Mexico, Reliance Partners continues to foster collaboration and expertise with annual Modernization of Cross-Border Trade events. Held on June 17, 2025, at the Laredo Country Club in Laredo, Texas, the 8th Annual Modernization of Cross-Border Trade event drew in over 500 logistics professionals. 2025 featured a strong sponsor lineup, including Cargado, Monex USA, Volvo Trucks, Evans Transportation, Werner, Dunavant, Atlantic Logistics, and more, with complimentary admission for all logistics providers, shippers, and freight brokers. What started eight years ago as an insurance-focused gathering has evolved into a premier industry forum where cross-border technology disruptors, logistics firms expanding into Mexico, and capacity providers connect and collaborate. This year's speakers highlighted the following topics: What to expect from the 2026 United States-Mexico-Canada Agreement review upon the election of President Donald Trump and Mexican President Claudia Sheinbaum How and when to leverage cross-border warehouse space What cross-border investment firms are looking at in 2025 Cross-border partner vetting Practical technology for cross-border in 2025 U.S.-Mexico customs brokerage panel with Customs and Border Protection The Need for Cross-Border Insurance At the core of the event's discussions was the vital role of cross-border insurance, a topic that is gaining increasing prominence amid escalating trade volumes and complexities. The importance of having robust cross-border insurance cannot be overstated, particularly as the Mexican cargo landscape presents numerous challenges. With a 3% increase in cargo truck hijacking reported in 2023, according to the , Mark Vickers, Executive Vice President and Head of International Logistics at Reliance Partners, highlighted key differences between U.S. and Mexican insurance policies. U.S.-issued Mexican cargo insurance is particularly beneficial as it allows claims to be resolved in the U.S., offering more reliable outcomes. In contrast, Mexican cargo insurance often involves lenient liability requirements. Carriers' liability for cargo damage tends to be capped significantly lower than actual shipment values. These limitations are coupled with burdensome documentation requirements and exclusions typical to Mexican policies, which often delay claim payouts and complicate logistics operations. Moreover, the negligence-based liability in Mexico means that carriers are only accountable for damages caused by negligence, leaving significant risks for shippers uncovered. Effective insurance has become a more crucial need than ever. Cross-border insurance helps to ensure continuity and mitigate risk. Every cross-border operation needs stability when it comes to an uncertain environment. The 8th Annual Modernization of Cross-Border Trade event featured a range of thought-provoking panels covering topics such as cross-border disruption, Mexican cargo insurance, and strategies for expanding capacity. The participation level and diversity of attendees spanned shippers, freight brokers, U.S. and Mexican carriers, customs brokers, warehouse operators, logistics tech companies, and investors. Many event participants validated the necessity for progress and preparedness in regards to this topic. 'It starts with great people, and this event truly brought them together,' said one attendee. One industry professional noted, 'If you're investing in cross-border and you aren't in Laredo at this event, you're missing out.' Another echoed, 'This event showcases how fast the space is evolving and how important it is to be part of the conversation.' Reliance Partners' Cross-Border Solutions In response to these challenges, Reliance Partners has developed the Borderless Coverage program. This innovative program is specifically designed to connect shippers, carriers, and brokers with U.S.-based underwriters who specialize in Mexican cargo insurance. The program aims to eliminate the uncertainties of traditional policies by ensuring expedited claims payments directly to the shipper, thus maintaining operational flow while supporting cost recovery. Borderless Coverage offers transparent policies that reflect the tangible realities of cross-border risk, thereby shielding shippers from vulnerabilities associated with traditional insurance models. Simplified coverage options reduce unrealistic requirements that often lead to disputes. This model promotes collaboration and partnership rather than tedious policy navigation. Likewise, Reliance Partners' Cargo Truck Hijacking Portal is designed to help nearshoring executives, journalists, international logistics professionals and researchers analyze roadway logistics risk in Mexico. The Reliance team compiles, consolidates, and crunches data from Mexico's federal government's National Public Security System in order to provide the first and only open source data portal on cargo hijackings in Mexico. Upcoming News With nearshoring initiatives gaining momentum, the impetus for robust partnerships and comprehensive insurance solutions remains high. The insights shared at the 8th Annual Modernization of Cross-Border Trade event reinforce the critical nature of insurance in facilitating secure and efficient trade activities across borders. As the landscape continues to shift (fueled by innovations and policy changes), the role of cross-border insurance as a stabilizing force shouldn't be overlooked. Industry players need to align towards common goals, and for that they need the knowledge and tools to navigate the complexities of a dynamic trading environment. Reliance Partners has already set its sights on future engagements, with preparations underway for the 9th Annual Modernization of Cross-Border Trade. Because this is a topic of growing importance, there has to be continued dialogue and collaboration within the trade community. Reliance Partners wants to enhance industry discourse and play a pivotal role in shaping the future of cross-border logistics and insurance. Click here to learn more about Reliance Partners. The post Modernization of Cross-Border Trade event draws industry experts to Laredo, TX appeared first on FreightWaves. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27 minutes ago
- Yahoo
The government wants AI to fight wars and review your taxes
Elon Musk has receded from Washington but one of his most disruptive ideas about government is surging inside the Trump administration. Artificial intelligence, Musk has said, can do a better job than federal employees at many tasks - a notion being tested by AI projects trying to automate work across nearly every agency in the executive branch. Subscribe to The Post Most newsletter for the most important and interesting stories from The Washington Post. The Federal Aviation Administration is exploring whether AI can be a better air traffic controller. The Pentagon is using AI to help officers distinguish between combatants and civilians in the field, and said Monday that its personnel would begin using the chatbot Grok offered by Musk's start-up, xAI, which is trying to gain a foothold in federal agencies. Artificial intelligence technology could soon play a central role in tax audits, airport security screenings and more, according to public documents and interviews with current and former federal workers. Many of these AI programs aim to shrink the federal workforce - continuing the work of Musk's U.S. DOGE Service that has cut thousands of government employees. Government AI is also promised to reduce wait times and lower costs to American taxpayers. Government tech watchdogs worry the Trump administration's automation drive - combined with federal layoffs - will give unproven technology an outsize role. If AI drives federal decision-making instead of aiding human experts, glitches could unfairly deprive people of benefits or harm public safety, said Elizabeth Laird, a director at the Washington-based nonprofit Center for Democracy and Technology. There is 'a fundamental mismatch' between what AI can do and what citizens expect from government, she said. President Joe Biden in 2023 signed an executive order aimed at spurring government use of AI, while also containing its risks. In January, President Donald Trump repealed that order. His administration has removed AI guardrails while seeking to accelerate its rollout. A comprehensive White House AI plan is expected this month. 'President Trump has long stressed the importance of American AI dominance, and his administration is using every possible tool to streamline our government and deliver more efficient results for the American people,' White House spokeswoman Anna Kelly said in a statement. The Washington Post reviewed government disclosures and interviewed current and former federal workers about plans to expand government AI. Some expressed alarm at the administration's disregard for safety and government staff. Others saw potential to improve efficiency. 'In government, you have so much that needs doing and AI can help get it done and get it done faster,' said Jennifer Pahlka, who was deputy U.S. chief technology officer in President Barack Obama's second term. Sahil Lavingia, a former DOGE staffer who pushed the Department of Veterans Affairs to use AI to identify potentially wasteful spending, said government should aggressively deploy the technology becoming so prevalent elsewhere. Government processes are efficient today, he said, 'but could be made more efficient with AI.' Lavingia argued no task should be off limits for experimentation, 'especially in war.' 'I don't trust humans with life and death tasks,' he said, echoing a maximalist view of AI's potential shared by some DOGE staffers. Here's how AI is being deployed within some government agencies embracing the technology. - - - Waging war The Pentagon is charging ahead with artificial intelligence this year. The number of military and civilian personnel using NGA Maven, one of the Pentagon's core AI programs, has more than doubled since January, said Vice Adm. Frank Whitworth, director of the National Geospatial-Intelligence Agency, in a May speech. The system, launched in 2017, processes imagery from satellites, drones and other sources to detect and identify potential targets for humans to assess. More than 25,000 U.S. military and civilian personnel around the world now use NGA Maven. NGA Maven is being expanded, Adm. Whitworth said, to interpret data such as audio and text in conjunction with imagery, offering commanders a 'live map' of military operations. The aim is to help it better distinguish combatants from noncombatants and enemies from allies, and for units using NGA Maven to be able to make 1,000 accurate decisions about potential targets within an hour. The Pentagon's AI drive under Trump will give tech companies like data-mining firm Palantir a larger role in American military power. A White House executive order and a Defense Department memo have instructed federal officials to rely more on commercial technology. In May, the Defense Department announced it was more than doubling its planned spending on a core AI system that is part of NGA Maven called Maven Smart System, allocating an additional $795 million. The software, provided by Palantir, analyzes sensor data to help soldiers identify targets and commanders to approve strikes. It has been used for planning logistics to support deployed troops. - - - Air traffic control The Federal Aviation Administration is testing whether AI software can reliably aid human air traffic controllers, according to a person with knowledge of the agency's plans who spoke on the condition of anonymity to avoid retaliation. Humans would remain in the loop, the person said, but AI would help reduce fatigue and distraction. Air traffic control staff would continue to communicate with pilots, for example, but AI might handle repetitive and data-driven tasks, monitoring airspace more generally. Due in part to ongoing staff shortages in air traffic control, the agency's AI plans include 'planning for less people,' the person said. Other uses for AI being explored at the FAA include analyzing air traffic or crash data and predicting when aircraft are likely to need maintenance, the person said. The FAA sees artificial intelligence as a potential tool to address airline safety concerns that were brought to the fore by the January midair collision that killed more than 60 people near Reagan National Airport. 'The FAA is exploring how AI can improve safety,' the agency said in a unsigned statement, but air traffic controllers do not currently use the technology. That includes using the technology to scan incident reports and other data to find risks around airports with a mixture of helicopter and airplane traffic, the statement said, while emphasizing humans will remain in charge. 'FAA subject matter experts are essential to our oversight and safety mission and that will never change,' the statement said. - - - Examining patents The U.S. Patent and Trademark Office wants to test whether part of the job of patent examiners - who review patent applications to determine their validity - can replaced by AI, according to records obtained by The Post and an agency employee who spoke on the condition of anonymity to describe internal deliberations. Patent seekers who opt into a pilot program will have their applications fed into an AI search tool that will trawl the agency's databases for existing patents with similar information. It will email applicants a list of the ten most relevant documents, with the goal of efficiently spurring people to revise, alter or withdraw their application, the records show. From July 21, per an email obtained by The Post, it will become 'mandatory' for examiners to use an AI-based search tool to run a similarity check on patent applications. The agency did not respond to a question asking if it is the same technology used in the pilot program that will email patent applicants. The agency employee said AI could have an expansive role at USPTO. Examiners write reports explaining whether applications fall afoul of patent laws or rules. The large language models behind recent AI systems like ChatGPT 'are very good at writing reports, and their ability to analyze keeps getting better,' the employee said. This month, the agency had planned to roll out another new AI search tool that examiners will be expected to use, according to internal documents reviewed by The Post. But the launch moved so quickly that concerns arose USPTO workers - and some top leaders - did not understand what was about to happen. Some staff suggested delaying the launch, the documents show, and it is unclear when it will ultimately be released. USPTO referred questions to the Commerce Department, which shared a statement from an unnamed spokesperson. 'At the USPTO, we are evaluating how AI and technology can better support the great work of our patent examiners,' the statement said. - - - Airport security screening You may see fewer security staff next time you fly as the Transportation Security Administration automates a growing number of tasks at airport checkpoints. TSA began rolling out facial recognition cameras to check IDs in 2022, a program now live in more than 200 airports nationwide. Despite studies showing that facial recognition is not perfect and less accurate at identifying people of color, the agency says it is more effective at spotting impostors than human reviewers. A federal report this year found TSA's facial recognition is more than 99 percent accurate across all demographic groups tested. The agency says it is experimenting with automated kiosks that allow pre-checked passengers to pass through security with 'minimal to no assistance' from TSA officers. During the Biden administration, these and other AI efforts at TSA were aimed at helping security officers be more efficient - not replacing them, said a former technology official at the Department of Homeland Security, TSA's parent agency, who spoke on the condition of anonymity to discuss internal matters. 'It frees up the officer to spend more time interacting with a passenger,' the former official said. The new Trump administration has indicated it wants to accelerate AI projects, which could reduce the number of TSA officers at airports, according to Galvin Widjaja, CEO of Austin-based a contractor which works with TSA and DHS on tools for screening airport travelers. 'If an AI can make the decision, and there's an opportunity to reduce the manpower, they're going to do that,' Widjaja said in an interview. Russ Read, a spokesman for TSA, said in an emailed statement that 'the future of aviation security will be a combination of human talent and technological innovation.' - - - Tax audits The Internal Revenue Service has an AI program to help employees query its internal manual, in addition to chatbots for a variety of internal uses. But the agency is now looking to off-load more significant tasks to AI tools. Once the new administration took over, with a mandate from DOGE that targeted the IRS, the agency examined the feasibility of deploying AI to manage tax audits, according to a person familiar with the matter, speaking on the condition of anonymity for fear of retribution. The push to automate work so central to the IRS's mission underscores a broader strategy: to delegate functions typically left to human experts to powerful software instead. 'The end game is to have one IT, HR, etc., for Treasury and get AI to do everything,' the person said. A DOGE official, start-up founder Sam Corcos, has been overseeing work to deploy AI more broadly at the IRS. But the lack of oversight of an ambitious effort to centralize the work of the IRS and feed it to a powerful AI tool has raised internal worries, the person said. 'The IRS has used AI for business functions including operational efficiency, fraud detection, and taxpayer services for a long time,' a Treasury Department spokeswoman said in a statement. 'Treasury CIO Sam Corcos is implementing the fulsome IRS modernization plan that taxpayers have deserved for over three decades.' - - - Caring for veterans In April, the Department of Veterans Affairs's top technology official emailed lieutenants with his interpretation of the Trump administration's new AI policy. 'The message is clear to me,' Charles Worthington, who serves as VA's chief technology officer and chief AI officer, said. 'Be aggressive in seizing AI opportunity, while implementing common sense safeguards to ensure these tools are trustworthy when they are used in VA's most sensitive areas such as benefit determinations and health care.' The email was published to VA's website in response to a public records request. VA said it deployed hundreds of uses of artificial intelligence last year, making it one of the agencies most actively tapping AI based on government disclosures. Among the most controversial of these programs has been REACH VET, a scoring algorithm used to prioritize mental health assistance to patients predicted to be at the highest risk of suicide. Last year, an investigation by the Fuller Project, a nonprofit news organization, found that the system prioritized help to White men, especially those who have been divorced or widowed - groups studies show to be at the highest risk of suicide. VA acknowledged that REACH VET previously did not consider known risk factors for suicide in women veterans, making it less likely that women struggling with thoughts of suicide would flagged for assistance. Pete Kasperowicz, a VA spokesman, said in an email that the agency recently updated the REACH VET algorithm to account for several new risk factors specific to women, including military sexual trauma, pregnancy, ovarian cysts and infertility. Since the program launched in 2017, it has helped identify more than 117,000 at-risk veterans, prompting staff to offer them additional support and services, he said. REACH VET was one of over 300 AI applications that the Biden administration labeled 'safety impacting' or 'rights impacting' in annual transparency reports. The Trump administration, which has derided the 'risk-averse approach of the previous administration,' discontinued those labels and will instead denote sensitive programs as 'high-impact.' GRAPHIC Related Content He may have stopped Trump's would-be assassin. Now he's telling his story. He seeded clouds over Texas. Then came the conspiracy theories. How conservatives beat back a Republican sell-off of public lands
