US adults use AI for financial advice but show low trust, survey finds

While artificial intelligence is increasingly being adopted for financial advice among adults in the United States, a significant portion of users express low confidence in these emerging technologies, according to a recent survey.

The study reveals that despite the accessibility and potential efficiency of AI-driven financial tools, a majority of consumers still lean towards traditional methods for seeking financial guidance. Many prefer to conduct their own research online or consult with human financial advisors, indicating a persistent preference for human interaction and expertise in managing personal finances.

Cost emerges as a critical consideration, particularly for younger demographics. While AI tools might offer lower fees compared to human advisors, the overall perceived value and trustworthiness play a more dominant role in decision-making, especially for those just starting their financial journey.

This trend suggests that while AI is making inroads into the financial advisory sector, building user trust and demonstrating tangible value beyond cost savings will be crucial for its widespread adoption and integration into mainstream financial planning.