Marvin OnumonuArtificial intelligence (AI) adoption has increased in UK financial services, but most employees want tighter controls, research from Smarsh found.
Out of 2,000 UK financial services and insurance employees surveyed, 37% said they often used public AI tools like ChatGPT or Microsoft 365 Copilot for work.
However, 55% said they had never received any official training on using these tools.
38% were not sure if their organisation had tools and processes to capture and monitor the outputs of AI tools, while 21% said they knew their firm did not.
69% said they would feel more confident using AI tools if all outputs were captured and monitored for transparency.
Tom Padgett, president, enterprise business at Smarsh, said: “AI adoption in financial services has accelerated rapidly, with employees embracing these tools to boost productivity. 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.”
43% said their organisation used AI agents for customer communications, including personalised financial advice.
22% said their firm was using the technology for investment activities such as trade recommendations and portfolio management.
31% had concerns about their organisation’s ability to meet or apply regulatory obligations to AI agents.
Additionally, 29% said they were worried they did not know where potentially sensitive information was going when AI agents were used.
Paul Taylor, vice president of product at Smarsh, said: “Using public Al tools without controls is digital negligence.
“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.”
