时间亿万富翁想要更高风险：人工智能该背锅吗

Time billionaires want more risk. ls Al toblame? ResearchAnalyst+44-20-754-10130 HERE Research Analyst+44-20-754-74994 Are you a time billionaire?Some say"yes"if theyexpect to have more than 1bnseconds (or about 31.5 years) ahead of them. And as the number of youngerinvestors increases, and their time horizons span 30, 40, or 50 years, they wanttwo things: 1) More risk than they have today, 2) Al to manage their money andtrade for them. So, is Al convincing investors,particularly young people, to increase their currentlevel of investment risk? In this report, we use proprietary data from ourdbDatalnsightsteamtobreak down exactlywho wantsmoreinvestment risk andover what timeframe.We highlight that both Americans and Britons under theage of 55 are particularly keen to increase (relative to today) both their risktolerance and their dependence on Alto manage their portfolio.The youngertheage group, the more they say they will increase their risk over the coming 1, 3, and5 years. We then discuss various factors that are contributing to the increased desire forboth risk and Al advice. Behavioural psychology feeds directly into the equation,particularly as 'social' investing has become a trend.'Aspiration inflation'is alsovery tangible but we point out that young investors (and their risk appetite) aretheproduct of the environmentthat has been created forthem.In the end, thereare pros and cons. Several conflicts and conclusions come out of our work. The first is that it isintriguing that consumer sentiment is so low at the same time that the averageperson wants to take on more investment risk.A second is that this desire for riskat a household level comes as experts increasingly point to intensifying globalsystemic risks. A third is that the willingness to turn to Al for investment advicecomes as the social winds against Al more broadly are growing in strength. Thematic Research ThematicResearch Appendix 1 recommendation orview inthisreport.Galina Pozdnyakova,LukeTempleman, CPA. Prices are current as of the end of the previous trading session unless otherwise indicated and are sourcedfrom local exchanges via Reuters, Bloomberg and other vendors . Other information is sourced from Deutsche Bank, subjectpleasevisitourglobaldisclosurelook-uppageonourwebsiteathttps://research.db.com/Research/Disclosures/FiCCDisclosures.Asidefrom withinthisreport, important risk andconflict disclosures canalsobefound at https://research.db.com/Research/Disclosures/Disclaimer.Investors arestrongly encouraged to reviewthis information before investing Thematic Research The informationand opinions inthis report werepreparedbyDeutscheBank AGor one of its affiliates (collectively Deutsche Bank').Thoughthe information herein is believedtobe reliableandhas been obtained from public sourcesthird-party websites in this report are providedfor reader convenience only.Deutsche Bank neither endorses thecontent nor is responsible for the accuracy or security controls of those websites.If youuse the services of Deutsche Bank in connection witha purchase or sale of a securitythat is discussed inthis report, or is included or discussed in another communication (oral or written) from a Deutsche Bank analyst, DeutscheBankmayactasprincipalforitsownaccountorasagentforanotherperson. ownaccount orwithcustomers,inamanner inconsistent withtheviews taken inthis researchreport.OtherswithinDeutscheBank,including strategists,sales staff and other analysts,maytakeviews that are inconsistent withthosetaken in this research report. Deutsche Bank issues a variety of research products, including fundamentalanalysis,equity-linked analysis,quantitative analysis and trade ideas.Recommendations contained inonetype ofcommunication may differ from recommendations contained in others, whether as a result of differing time horizons,methodologies,perspectives or otherwise.Deutsche Bankand/or its affiliates mayalso be holding debt or equitysecurities of the issuers it writes on. Analysts are paid in part based on the profitability of Deutsche Bank AG and itsaffiliates, which includes investmentbanking,trading and principaltrading revenues. Opinions,estimates andprojections constitutethe current judgment of theauthoras of the date of this report.Theydonot necessarilyreflect the opinions of Deutsche Bankand are subject to change without notice.Deutsche Bankprovides liquidityforbuyers and sellers of securitiesissued bythe companies it covers.Deutsche Bank researchtermratings.Sometradeideasforequities are listed as Catalyst CallsontheResearchWebsite(https://research.db.com/Research/),andcanbefoundonthegeneral coveragelist and also onthecoveredcompany's page.ACatalyst Call represents a high-conviction belief by an analystthat a stock will outperform orthreemonths.InadditiontoCatalystCalls,analystsmayoccasionallydiscusswithourclients,andwithDeutscheBank salespersons and traders,trading strategies orideas thatreference catalysts or events that may havea near-term or