New Delhi, May 11 -- Despite the benefits, financial planners expressed reservations regarding the use of artificial intelligence (AI), with 47 per cent citing data privacy and cybersecurity concerns, according to a report by FPSB India, the Indian subsidiary of the Financial Planning Standards Board.

The report titled "How AI is Reshaping the Financial Planning Profession" further highlighted that about 42 per cent of financial companies' top executives are still concerned about the accuracy and reliability of AI outputs.

On the positive side, the report highlights that over three-quarters of financial planners (78 per cent) believe AI will help them better serve clients, while 60 per cent believe it will enhance the quality of financi...