Mind the trust gap: Londoners embrace AI in finance, leaving the rest of the UK behind

By Gloria Methri

London is leading the charge in AI-driven financial support, with new research from PensionBee revealing a striking divide in trust and adoption between the capital and the rest of the UK.

A survey of 1,000 UK adults found that 80% of Londoners trust artificial intelligence (AI) to provide accurate financial support advice either ‘completely’ or ‘somewhat’. This far outpaces the 62% trust level seen in other regions, highlighting a growing confidence gap in AI adoption across the country.

London’s AI Enthusiasm: A Regional Divide

The research underscores London’s increasing comfort with AI-powered financial tools. A notable 68% of Londoners support the use of AI alongside human agents for pension queries, compared to just 54% in the rest of the UK. This suggests a strong preference for a hybrid approach where AI enhances efficiency while human advisors provide the personal touch.

Luis Mejia, VP of Data at PensionBee, noted, “These findings not only demonstrate the huge enthusiasm that Londoners have for AI-driven financial products but also that combining AI with human support can really appeal to customers.”

AI Awareness and Adoption: London Leads the Way

Londoners’ familiarity with AI is another key factor driving trust. An overwhelming 91% of respondents from the capital claim to be familiar with AI, with 45% stating they are ‘very familiar’. In contrast, just 80% of respondents outside London report familiarity, and only 30% feel ‘very familiar’ with the technology.

This awareness translates into action. More than half (55%) of Londoners frequently or occasionally use AI to manage their finances, while adoption rates outside the capital lag at just 32%. The stark contrast in attitudes highlights a critical challenge for financial service providers: a one-size-fits-all approach to AI integration is unlikely to work. While London is at the forefront of AI adoption, many regions remain sceptical or less engaged.

Mejia emphasised the importance of regional nuances, saying, “The stark contrast between London and the rest of the UK emphasises the importance of considering regional differences. Finance companies first need to understand, then address, the reasons behind these different attitudes to ensure the benefits of AI are felt by all their customers.”

Closing the Gap

As AI continues to shape the future of finance, bridging the trust divide between London and the rest of the UK will be essential. Financial institutions must tailor their AI-driven solutions to meet varying levels of trust, awareness, and adoption. By doing so, they can ensure that AI-powered financial support benefits all customers—not just those in the capital.

With London setting the pace, the question remains: how long will it take for the rest of the UK to catch up?