The Intermediary – July 2026 - Flipbook - Page 72
T E C H N O L O GY
Opinion
The future of AI in
financial services
T
he Financial Conduct
Authority’s (FCA)
recent Mills Review
makes one thing clear:
artificial intelligence
(AI) is set to become
a defining force in retail financial
services over the coming years.
From personalised financial
guidance to improved operational
efficiency, AI has the potential to make
services more accessible.
However, the review also highlights
the challenges that will determine
whether consumers embrace
technology, including transparency,
explainability, accountability and
ultimately, maintaining trust.
Property transactions provide a
useful example of where AI can deliver
meaningful benefits while keeping
human expertise at the centre.
Surveying sits at a critical point in
the home-buying journey. A valuation
or survey can influence one of the
biggest financial decisions a consumer
makes, meaning accuracy, consistency
and professional judgement remain
vital. The role of AI should therefore
not be to replace surveyors, but to
support them by improving the
processes around decision making.
At Houzecheck, we have seen the
value of using AI as an additional
layer of quality assurance. Our
approach is focused on supporting
surveyors by identifying opportunities
to improve clarity, consistency and
completeness within reports, while
leaving professional judgement and
accountability with qualified experts.
This aligns with one of the FCA’s
key messages: successful AI adoption
will depend on maintaining consumer
confidence. Consumers need to
understand how technology is being
used, why it is being used and what
safeguards exist to ensure decisions
remain fair and reliable.
The temptation with AI, and
there are many, is to focus purely
on efficiency. However, the greatest
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The Intermediary | July 2026
opportunity is not simply completing
tasks faster. It is improving outcomes.
In surveying, this means using
technology to reduce inconsistency
across reports, support beer
communication of property
information and help consumers
make informed decisions. For lenders
and brokers, it means creating a more
predictable process at a time when
delays within property transactions
remain a significant challenge.
The FCA’s review also highlights
the importance of managing the
risks associated with AI, including
misinformation, cyber threats and
over-reliance on technology providers.
These concerns reinforce the need
for firms to adopt AI responsibly,
with clear governance, appropriate
oversight and a focus on where
technology genuinely adds value.
The future of AI in financial services
will not be defined by whether firms
adopt the technology. It will be defined
by whether they adopt it in a way that
earns consumer trust.
Maintaining responsibility
There is also a responsibility on
businesses to challenge some of the
misconceptions surrounding AI.
For many consumers, AI still feels
like a faceless technology making
important decisions without human
The strongest
applications of AI will
be those that combine
technological capability
with human expertise [...]
AI’s role is not to replace
decision-makers but to
further support them”
RICHARD SEXTON
is commercial director
at Houzecheck
involvement. That perception can
understandably create skepticism,
particularly when the decisions relates
to something as significant as buying
a home. The best way to overcome
those concerns is not through bold
claims about automation, but through
practical, transparent use of AI that
demonstrably improves customer
outcomes.
When consumers can see that
technology is helping professionals
produce clearer advice, reducing the
risks of errors and speeding up the
process without removing human
oversight, trust naturally begins to
build. Responsible implementation,
clear communication and
accountability will do far more
to encourage adoption than the
technology itself.
The strongest applications of AI will
be those that combine technological
capability with human expertise.
In sectors like surveying, where
professional judgement remains
critical, AI’s role is not to replace
decision-makers but to further
support them in making beer
decisions.
As the FCA’s Review makes
clear, AI is not simply another
piece of technology. It represents a
fundamental shi in how financial
services operate. The firms that
succeed will be those that use it
responsibly, transparently and with
consumers at the centre. ●
