Barclays research reveals a growing AI split between the UK’s HENRY high earners and everyone else
Key Points
- Nine in 10 UK high earners have used AI for a financial purpose, Barclays research found
- Only 2% of high earners would refuse AI features from their bank, against 36% of UK consumers
- Nearly half of UK adults want no AI in their financial planning, compared with 9% of high earners
- Barclays defines HENRYs as people earning over £100,000 with under six months of living costs saved
- Opinium surveyed 3,000 UK consumers for Barclays between 9 and 16 February
New Barclays data shows 9 in 10 of Britain’s highest earners have already used AI for a financial purpose.
Barclays defines the group as HENRYs, or High Earners, Not Rich Yet: people earning more than £100,000 a year who hold less than six months of essential living costs in savings.
The gap between that group and everyone else is widest on banking technology. Just 2% of HENRYs said they would not use AI features offered by their bank, against 36% of UK consumers overall.
Nearly half of UK adults said they want no AI involvement in their financial planning at all. The equivalent figure among HENRYs is 9%.
More than a quarter of HENRYs have used AI to help set financial goals, and almost a quarter have used it for financial advice.
How HENRYs handle their money
The average HENRY investor reviews their portfolio around once a week, compared with around once a month for UK investors overall. Nearly a third check more often than that, and one in six look at their investments every day.
More than half rate their understanding of investment terminology as high, against around a fifth of UK adults. Almost six in 10 describe themselves as comfortable taking financial risk.
Francis said the risk of checking investments that frequently is that short-term market movements start to influence long-term decisions. She added that AI will not replace professional judgement or careful planning.
Fortune writer Shawn Tully coined the HENRY label in 2003 to describe professionals on strong incomes who had not yet built significant wealth.
Opinium carried out the research for Barclays between 9 and 16 February, surveying 3,000 UK consumers weighted by age, gender, region and income group.
