IPAW 2026: Rethinking income protection for modern working lives

AI in advice

Jaskeet Briah
clock • 4 min read

On the final day of Income Protection Action Week (IPAW), the Income Protection Task Force (IPTF) discussed the role that income protection (IP) can play as a foundation of long-term financial resilience, as well as the role of AI in advice.

According to the FCA's recent review, The Mills Review: AI and the Future of Retail Financial Services, the regulator suggested that AI can address long standing weaknesses in retail financial markets.  The review said that around 26% of consumers trust general purpose AI tools such as ChatGPT, Claude or Gemini. For financial advice, around two thirds of UK adults now use AI, with 16% already using it for financial services. Additionally, 20% of adults said they would use AI that acts autonomously on their finances within preset goals. Among those using AI, 75% trust it to explain thi...

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