Latest / Best of Business / Amir Ghandar: Chartered Accountants ANZ Reporting and Assurance Leader on the growing number of investors utilising AI

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Amir Ghandar: Chartered Accountants ANZ Reporting and Assurance Leader on the growing number of investors utilising AI · Best of Business

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  Speaker 1: You're listening to a podcast from News talks'b Follow this
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  Speaker 2: Now fascinating insight into how we're using AI when it
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  Speaker 2: comes to our investments. A new survey has found more
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  Speaker 2: than one third of key we investors use AI to
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  Speaker 2: make investment decisions, and as you might expect, it's more
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  Speaker 2: popular with younger people. So people between the ages of
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  Speaker 2: eighteen and twenty nine, sixty four percent of them use
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  Speaker 2: AI for their investments. Amir Ganda is the Reporting and
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  Speaker 2: Assurance leader at Chartered Accountants New Zealand and with us.
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  Speaker 3: Hello, Amir, Kira, how are you well? Thank you?
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  Speaker 2: Is this wise?
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  Speaker 3: Well? There are multiple sides so this certainly it's the
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  Speaker 3: most interesting thing I think coming out of our Investor
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  Speaker 3: Confidence survey this year that so many kiwis are turning
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  Speaker 3: to AI in their investment decisions, and many are finding
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  Speaker 3: that it's working really well for them. They're finding that
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  Speaker 3: it provided information quickly, explanations were clear, and the responses
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  Speaker 3: help them make decisions. But others lack trust. They found
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  Speaker 3: that it didn't provide new information or in fact found
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  Speaker 3: errors and misinformation. And I guess what It comes back
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  Speaker 3: to is making sure that what you are using to
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  Speaker 3: make decisions is reliable. And this is a matter of
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  Speaker 3: garbage in, garbage out. So AI works best where you
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  Speaker 3: have an audited, underlying, independent data set and you're using
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  Speaker 3: the AI, understand its limits, and within the robust regulatory
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  Speaker 3: framework there that's designed to protect investors.
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  Speaker 2: I mean, I'm guessing that these people are asking something
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  Speaker 2: a little bit more complicated than simply where should I
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  Speaker 2: put my money on the interts Yeah.
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  Speaker 3: You'd think so. And what they're using is other household
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  Speaker 3: names chat, GPT, copilot, deep seek, for example, those of
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  Speaker 3: the top three and AI as opposed to more sophisticated
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  Speaker 3: investment specific tools. But AI can help investors to, for example,
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  Speaker 3: digest very large amounts of information. And if there's one
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  Speaker 3: place that we do tend to create that kind of information,
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  Speaker 3: it's in investments and markets, financial information, all sorts of things,
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  Speaker 3: and so it's helping them to get across information, identify
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  Speaker 3: the key points. But of course the old truisms are
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  Speaker 3: as true here as anywhere else. You need to validate
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  Speaker 3: what's coming out of it out of these tools before
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  Speaker 3: making decisions. Go back to the source documentation and it's
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  Speaker 3: why investors in this survey say that eighty eight percent
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  Speaker 3: of them say they trust audited financial statements and orders
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  Speaker 3: are still that critical human element so that they can
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  Speaker 3: rely on the information they're using. But certainly it's providing
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  Speaker 3: lots of different useful purposes also identifying opportunities, and that's
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  Speaker 3: how also international institutional investors are using AI increasingly.
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  Speaker 2: I noticed also that about eleven percent of respondents reckon
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  Speaker 2: domestic political unrest is the biggest risk to the New
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  Speaker 2: Zealand economy. What do you think that mean by domestic
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  Speaker 2: political unrest?
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  Speaker 3: Well, certainly the highest concern in this year's survey when
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  Speaker 3: it comes to the New Zealand economy was inflation twenty
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  Speaker 3: five percent, although that's come back and what has increased
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  Speaker 3: a lot is up to that's twenty five percent of
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  Speaker 3: investors saw that as the biggest risk. Twenty three percent
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  Speaker 3: pointed to the global political landscape, and that's really I
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  Speaker 3: think the real story in terms of what's making investment
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  Speaker 3: as nervous. That's way up from seventeen percent in the prey.
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  Speaker 3: Of course, when we have trade discussions coming on the
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  Speaker 3: agenda that haven't been relevant for decades, you've got tariff talk,
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  Speaker 3: you've got conflicts in parts of the world, and so
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  Speaker 3: that's why investors, according to this survey, had a lot
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  Speaker 3: more trust in the New Zealand market and companies than
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  Speaker 3: they do in overseas markets. The finding that certainly the
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  Speaker 3: fourth highest was the domestic political landscape, which is not
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  Speaker 3: necessarily political unrest, but that really comes back to looking
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  Speaker 3: at politics, which is it's pretty much always a factor
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  Speaker 3: for investors when they're thinking about what might be coming
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  Speaker 3: up in the economy.
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  Speaker 2: Thank you very much for me, that's fascinating stuff. Amir Ganda, reporting,
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  Speaker 2: an assurance leader Chartered Accountants, New Zealand.
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