New research from the Financial Services Council shows that New Zealanders are relatively comfortable with AI when it supports them, such as detecting fraud, explaining products or reducing paperwork. Confidence drops sharply when AI moves from assisting a person to making consequential financial decisions itself.
That distinction matters because it gives organisations a practical guide to where customers are likely to accept AI first. The report also shows that privacy, fairness and human accountability remain central to whether people trust these systems.
Key facts
- 57% are comfortable with AI detecting fraud and scams.
- 61% are comfortable with AI-powered customer support.
- Only 35% are comfortable with automated financial decisions.
- 70% are concerned about AI’s use of personal data and privacy.
Our take
This is useful evidence for New Zealand organisations considering customer-facing AI. Start where AI supports people rather than replacing judgement.
For higher-impact decisions, clear human accountability, understandable explanations and visible privacy controls are likely to matter as much as the quality of the model itself. In financial services especially, trust should be treated as part of the system design, not something dealt with after deployment.
Sources
RiskinfoNZ: NZers Back AI for Scam Detection But Not on Money Calls
KiwiGen.AI 