Retail investors in Singapore are embracing artificial intelligence (AI) in their investment strategies more than their global counterparts, according to a recent survey by trading platform eToro. The survey, which included 11,000 retail investors across 13 countries, found that 32% of Singaporean investors are already using AI to manage their portfolios, compared to just 19% globally.
The survey highlights that an additional 43% of Singaporean investors are open to trying AI for investment purposes. The primary motivation for adopting AI is the time saved on research, with 56% of local investors citing this benefit. Furthermore, 51% of Singaporean investors believe AI represents the future of investing, and 33% think AI can outperform fund managers in selecting investments.
Market Analyst Zavier Wong from eToro noted, “Singapore has one of the highest internet and smartphone penetration rates globally, so it comes as no surprise that the city has some of the most tech-savvy investors in the world.”
The data also indicates a gender difference in attitudes towards AI, with 56% of female investors viewing AI as the future of investing, compared to 46% of male investors. Despite relying on AI, 39% of Singaporean investors plan to further educate themselves on AI-powered investment strategies in the next year, a higher percentage than the global average of 23%.
Additionally, over half of Singaporean investors currently hold investments in the tech sector, with 27% planning to increase their tech investments in the coming months. This trend underscores the growing confidence in AI’s potential across various age groups in Singapore.
