CNBC survey shows mixed trust in using AI financial tools
NEW JERSEY, UNITED STATES — A recent CNBC survey revealed that the general American population harbors mixed trust in using artificial intelligence for financial advice.
The study — conducted by Survey Monkey — found that 37% of American adults are interested in using AI tools, such as ChatGPT, for managing their finances.
However, 11% of respondents also said they are “very interested,” while four per cent already used AI tools for money management.
“What we learned, though, was most people who are consulting these resources are verifying what they hear with a financial advisor,” said Kevin Keller, CEO of the CFP Board, a professional organization for certified financial planners.
A separate CFP Board survey showed that 51% of adults have little or no trust in financial advice provided by AI tools like ChatGPT and Google Bard.
On the other hand, 31% expressed confidence in AI-generated financial advice without verification from another source.
Despite the availability and convenience of online platforms for significant financial decisions such as retirement planning, home purchases, and college funding, people still seek guidance from human financial advisors.
“These conversations happen over the course of a lifetime, are deeply personal and cannot be answered by just typing in a question to Chat GPT,” said certified financial planner James Lee.
