Over half (55%) of Hong Kong working adults say artificial intelligence (AI) will make their path to retirement more unpredictable than that of the previous generation, according to a T. Rowe Price survey.
Raymond Chan, head of Greater China Intermediary Distribution at T. Rowe Price, said: “Retirement is becoming less of a single point in time and more of a journey. AI adds another layer of uncertainty because it could enable some people to work longer or more flexibly, while prompting others to reskill, reduce their hours or rethink when they retire.
AI-related uncertainty
Moreover, only 21% feel fully or substantially financially prepared to stay on track for their ideal retirement if AI changes their work, income or path toward retirement.
Among respondents with a clear view on how they will retire, nearly three-quarters (72%) expect to move toward retirement through multiple stages rather than transition directly from full-time work into retirement.
Meanwhile, 63% believe the growing use of AI in the workplace will increase the need for flexible retirement arrangements.
Respondents expect AI to reshape working lives in both positive and disruptive ways. Over half (56%) think AI will enable more flexible ways of working, while 43% see potential for new career, business, or income opportunities. At the same time, 70% expect to need new skills to adapt to AI-related changes, and 49% expect AI to disrupt their employment or business income.
Wenting Shen, Global Investment Solutions strategist and portfolio manager at T. Rowe Price,said: “Building an emergency savings buffer is a sensible way to prepare for the short-term uncertainty workers may face in the age of AI, but an emergency fund and a long-term retirement investment strategy serve very different purposes.”
