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

Over a third of UK employees use AI tools often for work, however, nearly 70% would feel more confident if all AI outputs were captured and monitored for transparency

LONDON, 25 June 2025 – 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."

Smarsh enables organisations to govern AI effectively, allowing them to facilitate compliant use of the technology while protecting employees from the new risks posed by it. With AI-enabled compliance and communications surveillance solutions such as Smarsh Intelligent Agent, Capture for Microsoft 365 Copilot and ChatGPT Enterprise, financial services firms can future-proof their communications infrastructure. Discover how to stay compliant and competitive with Smarsh’s recent AI in Communication Surveillance report.

About the research:

Smarsh enables companies to transform oversight into foresight by surfacing business-critical signals in all of their digital communications. Regulated organizations of all sizes rely upon the Smarsh portfolio of cloud-native digital communications capture, retention, and oversight solutions to help them identify regulatory and reputational risks within their communications data before those risks become losses, fines, or headlines.

This online survey of 2000 UK adults who work in financial services or insurance was commissioned by Smarsh and conducted by market research company OnePoll, in accordance with the Market Research Society's code of conduct. Data was collected between 8th April 2025 and 17th April 2025. All participants are double-opted in to take part in research and are paid an amount depending on the length and complexity of the survey. This survey was overseen and edited by the OnePoll research team. OnePoll are MRS Company Partners, corporate membership of ESOMAR and Members of the British Polling Council.