Paradigm has launched what it describes as the first national survey on artificial intelligence within the mortgage broker community, seeking to establish how advisers are using emerging technologies and the challenges they face in adopting them.
The survey, which opened today, is aimed at both appointed representative and directly authorised advisers. It will gather feedback on the extent to which AI is currently embedded in the mortgage market, the opportunities it might bring and the risks that firms are seeking to manage.
Paradigm said AI has the potential to transform the mortgage industry, from streamlining back-office functions to enabling more tailored solutions for clients.
The findings will be used to help the distributor consider whether the sector should pursue a national strategy, shaped by brokers and distributors, to maximise the benefits of AI while addressing concerns around regulation, ethics and the impact on employment.
Richard Howes, director of mortgages at Paradigm Mortgage Services, said: “This national survey on AI for the broker community, powered by Paradigm and with help from lenders and tech entrepreneurs, is looking to secure feedback from business owners and advisers – whether you are a DA or AR – in order that we can start to determine what an industry strategy might look like, as a broker/distributor community.
“This is an incredibly important and relevant market and societal issue, not just in terms of how AI might impact advisers’ day-to-day work, but also in ensuring the broker voice is heard in shaping how our industry adopts and integrates these technologies.”
The survey takes around 10 minutes to complete and responses will be treated confidentially. Advisers can access it online at surveymonkey.com/r/G9RZN55.
