Paradigm has launched a tool to help brokers identify gaps in their knowledge and understanding of artificial intelligence.

The five-minute test results in an AI readiness scorecard, which provides firms guidance on how to use the technology to improve their own  efficiency and marketing.

But it is also designed to help advisers adapt their businesses for AI-driven consumer behaviour, particularly as more buyers turn to large language models like ChatGPT to research mortgages and find a broker.

Developed in partnership with The Yardstick Agency, the tool is available exclusively to Paradigm member firms and follows the firm’s first national AI survey, which found strong engagement with AI tools but significant demand for more guidance and practical support.

The results will also help Paradigm shape future support and education for its members.

Its recent AI survey found that 75% of brokers believe they understand how AI has evolved over the past 50 years. A

Almost 82% have used tools such as ChatGPT or Copilot in the last three months, but only 45% understand the difference between open and closed data.

Paradigm Mortgage Services director of mortgages Richard Howes says: “Our recent survey showed a real appetite for more practical support around AI usage.

“This exclusive, first-of-its-kind scorecard tool provides advisers with a simple way to understand where they currently stand.

“It is independent and will help firms identify where they can enhance their processes, marketing and technology use.

“If members would like to discuss their results they get from using the tool, they can contact either myself or our business development team.”

The Yardstick Agency chief executive Phil Bray says: “It’s been a pleasure to work with Paradigm Mortgage Services to bring this free scorecard tool to life.

“It gives clear, practical steps to help businesses become more efficient and attract more clients.

“Our team is also available to support firms who want help implementing the recommendations.”