FOMO and Online Gambling: New Financial Threats for Indonesia's Gen Z

Indonesian Generation Z is confronting increasingly intricate financial hurdles in the digital age. Beyond the pervasive fear of missing out (FOMO), young individuals are increasingly exposed to the threats of online gambling, cyber fraud, and various get-rich-quick schemes proliferating on social media.

This situation is concerning because many young people possess the capacity to earn income but lack the essential skills to manage and safeguard their financial assets optimally. Simultaneously, the rapid advancement of artificial intelligence (AI) is transforming how young people work, learn, and make financial decisions.

Moleonoto The, President Director & CEO of PT Indo Premier Sekuritas, stated that AI is no longer a future technology but an integral part of daily life. "AI is no longer future technology. AI has become new infrastructure that changes how humans work, learn, communicate, invest, and even make decisions in daily life," Moleonoto said.

Without adequate financial literacy, young people risk becoming mere consumers of technology rather than creators of economic value. Therefore, financial management skills must evolve alongside an understanding of technological developments. Indonesia is currently experiencing a demographic bonus with a dominant productive-age population, and Gen Z will significantly shape the nation's economy. However, the flood of digital information makes them vulnerable to impulsive financial decisions. In response, financial service industry players are strengthening financial education and leveraging AI to aid more measured decision-making. Investment platforms are adapting to Gen Z's preferences with dynamic and personalized user interfaces.

Moleonoto believes AI should not be viewed as a threat to employment but as a tool to enhance decision-making quality, including financial management. "National economic transformation does not start from stocks or trading, but from the way of thinking. AI must be a means to improve the quality of life decisions and financial protection," he stated. Consequently, enhancing financial literacy is crucial for Gen Z to not only be digitally savvy but also capable of utilizing technology productively.