A new report from aggregation group Connective found that mortgage and financial brokers generally support leveraging artificial intelligence (AI) in their businesses, with 50% believing AI will be essential to staying competitive in the coming years and 36% believing AI will improve efficiency.
connective AI readiness in Australian intermediation reports, The study surveyed 300 Australian brokers across mortgage, commercial and asset finance lending (both Connective brokers and non-member brokers) and found that brokers are generally willing to use AI or incorporate it into their workflows.
It found that 37% of brokers say they use AI regularly and confidently, while the same percentage say they only “sometimes experiment” with AI.
The top benefits of AI recognized by brokers include automating daily tasks, responding faster to loan inquiries, and improving business processes.
Research shows that the most widely used AI tool employed by brokers is large-scale language models (LLMs). The most commonly used tool is ChatGPT, followed by Gemini and Copilot. Other platforms used included Llama, Claude, and Grok.
Connective found that most brokers use free or basic plans rather than premium user plans.
Only 14% of respondents said they do not use AI tools at all.
Brokers lacking AI guardrails
The report found that while the majority of intermediaries believe that AI is inherently important to the future success of their businesses, few have clearly identified strategies and processes for using the technology responsibly and compliantly.
Almost two-thirds (65%) had no documented AI strategy, and 40% had no AI governance at all (covering oversight, ownership, and risk management).
Only 1 in 20 brokerage firms had designated a responsible person as an “AI Champion,” and only 3% had integrated AI tools into their workflows.
Connective therefore warned that brokers often use AI without knowledge of appropriate guardrails, exposing them to algorithmic discrimination that can lead to privacy and cyber risks, biased results, and reputational damage.
Commenting on the findings, Connectiv CEO Glenn Rees said the findings showed the brokerage industry was approaching a critical moment in how it adopted emerging technologies, but warned that more guardrails needed to be put in place.
“AI is a powerful tool for brokers. It increases productivity, supports research, streamlines document processing, improves communication with clients, and helps brokers run their businesses more efficiently,” he said.
“Successful AI adoption depends on getting the fundamentals right. This requires a clear strategy, the right systems and infrastructure, a governance framework, and a culture that prioritizes experimentation and safe use.
“Once these foundations are in place, AI becomes a truly useful and sustainable tool. AI enhances brokers’ work by automating tasks and streamlining processes, allowing them to focus more on their clients and deliver better results while maintaining the compliance and trust that defines the broker channel.”
Noting that compliance and governance around the use of AI remains underdeveloped, he added: “Broking is a highly regulated industry and ASIC has made clear that there is increased scrutiny of not just whether AI is being used, but how it is being used.
“Brokers must meet obligations regarding consumer protection, disclosure, data handling, and professional judgment.
“We provide brokers with practical tools, such as our Responsible Use of AI Policy and AI Guardrails, to support secure deployment and ensure governance, risk management and responsible use are built in from day one.”
Connective offers the following tips for brokers looking to build confidence, competence, and safe habits when using AI.
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Set aside non-negotiable time each week for AI learning.
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Implement AI safety and guardrails (aggregators typically provide AI deployment standards).
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Identify one to two business problems that AI should solve.
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If you want to use the right AI tools, pay for the premium version for added security and privacy.
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Prioritize compliance by establishing responsible AI policies and implementing accuracy checks.
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Stay up to date with what other brokers are implementing in their aggregator networks.
Learn more about how brokers can optimize their business in a world of AI at the Better Business Summit 2026, supported by Principal Partner NAB.
The Better Business Summit will return in March and April 2026 with a five-state roadshow aimed at helping brokers hone their strategies, improve performance, and maintain an edge as competition intensifies in the residential, commercial, and specialty finance sectors.
The summits, to be held in Adelaide, Perth, Sydney and Melbourne, will feature a day-long agenda led by industry executives, elite performance leaders, and digital and AI experts, with a cap of 500 attendees at each event.
Click here to book your tickets and don’t miss out!
Click here for more information, including the agenda and speakers.
[Related: Speed over strategy: Why brokers risk missing AI’s bigger opportunity]
