New Smarsh UK Survey Shows AI Adoption Surges in Financial Services—But Employees Demand Stronger Guardrails

Today, Smarsh, the global leader in communications data and intelligence, reveals new research that highlights UK financial services employees’ perspectives on artificial intelligence (AI). The data indicates that while AI is fundamentally changing how UK financial services employees work and communicate, they are increasingly aware of the risks it poses to businesses without addressing training, privacy and compliance issues. 

Balancing innovation with risk from the bottom up 

The study, based on responses from 2000 UK employees in financial services and insurance, highlights how AI is now a pivotal part of daily business, with over a third often using AI tools for work purposes. However, 55% of employees say that they have never received any official training for using such tools. The research also reveals that: 

• Over a third (37%) say that they often use public AI tools – like ChatGPT or Microsoft 365 Copilot – for work purposes
• A further 38% are not sure whether their organisation has tools and processes to capture and monitor the outputs of AI tools, with a further 21% explicitly saying that they know that their firm does not
• Over two thirds (69%) would feel more confident using AI tools if all outputs were captured and monitored for transparency 

“AI adoption in financial services has accelerated rapidly, with employees embracing these tools to boost productivity,” said Tom Padgett, President, Enterprise Business at Smarsh. “But with innovation comes responsibility. Firms must establish the right guardrails to prevent data leaks and misconduct. The good news is that employees are on board—welcoming a safe, compliant AI environment that builds trust and unlocks long-term growth.” 

Licence to Skill? Employees unsure of AI Agent compliance

The research also reveals employees’ views around AI tools that are being used within their organisation for public, customer-facing tasks. Specifically, AI Agents – systems that are able to perform specific tasks without human intervention, i.e. a chatbot. The research shows that:

• Almost half (43%) say that their organisation uses AI Agents for customer communications, including personalised financial advice
• A quarter (22%) indicated that their firm is using the technology for investment activities, like trade recommendations and portfolio management
• Yet a third (31%) have concerns around their organisation’s ability to meet or apply regulatory obligations to AI Agents
• A further 29% worry that they don’t know where potentially sensitive information is going when AI Agents are used

The findings come as the FCA is set to give UK financial services firms the greenlight on ambitious proposals for AI innovation with an AI live testing service, aimed at supporting firms with implementing consumer-facing AI tools.

“Using public Al tools without controls is digital negligence,” said Paul Taylor, Vice President of Product at Smarsh. “You’re effectively feeding your crown jewels into a black box you don’t own, where the data can’t be deleted, and the logic can’t be explained. It’s reckless. Private tools like Microsoft 365 Copilot and ChatGPT Enterprise are a step in the right direction. Still, if companies aren’t actively capturing and auditing usage, they’re not securing innovation- they’re sleepwalking into a compliance nightmare.