82% of brokers using AI tools but knowledge gaps remain

Paradigm has revealed the results of its first national survey on artificial intelligence (AI) usage and understanding within the broker community.

It set out to understand how brokers were currently using AI, their confidence and knowledge levels, and what opportunities or challenges they saw ahead as the technology continued to develop.

The findings reveal that while brokers are increasingly engaging with AI tools and recognise the potential to improve efficiency and customer experience, many would welcome more support, training, and guidance on how to safely and effectively integrate AI into their business operations.

75% of respondents said they understood how AI has evolved over the past 50 years, showing strong foundational knowledge.

81.7% have used AI tools such as ChatGPT or Copilot in the last three months, suggesting high levels of engagement. However, only 45.1% said they understood the difference between Open and Closed Data, indicating some technical knowledge gaps.

When asked to rate how their business is aligning with AI, brokers gave an average score of between 2.26 and 2.82 out of five across areas such as data governance, workforce readiness, and building an actionable AI roadmap.

Just under 30% of firms said they were currently using AI within their marketing strategies, most commonly for content creation and ideas, design, or marketing analytics.

A large majority (86.75%) said they want to learn more about AI and how it could work for them, particularly in areas such as process efficiency, marketing, verification, customer experience and business development.

Richard Howes, director of mortgages at Paradigm Mortgage Services, said: “We thank everyone who completed the survey, which gives us great insight into the knowledge within our community around this subject. The fact that people want to know more about AI in all aspects of their business is really encouraging, and they see AI as something to walk towards rather than away from.

“Over the next few months, we’ll be producing information and guidance to help firms market their business using AI and Large Language Models, while also helping them protect themselves from the bad actors who will inevitably seek to exploit this technology. Our goal is to ensure businesses can embrace AI safely, effectively, and profitably.”

Richard Wilson, chief credit and money laundering reporting Officer for OSB, added: “As we move into a new era of complexity, the use of technology is both a force for change but also enables bad actors to play more effectively in our markets. The key for the broker and lending community is to be attuned to the new AI risks and benefits that stand in front us. Authenticating the information, you receive is crucial as is ensuring the techniques you use to summarise or explain data/information are safe, trusted and understood.”

Karl Griffin, CEO and founder of JammJar, commented: “The pace of AI innovation means this isn’t a ‘wait and see’ moment for brokers - it’s a fundamental shift. Customer expectations are evolving faster than ever, and the firms that embrace AI will be the ones who scale, attract talent, and deliver standout customer experiences.”