Americans turning to AI for financial advice but confidence low, poll shows
About 20% of Americans have recently used AI for financial advice, but their confidence in its expertise remains low.
A recent poll conducted by Gallup and Edward Jones reveals that 20% of Americans have turned to AI for financial advice, yet their confidence in its expertise is notably low. Only a minority, fewer than one in three respondents, expressed either some or a great deal of confidence in the financial advice they receive from AI. This confidence level is significantly lower compared to the 79% who have the same level of confidence in financial advisers.
A notable generational divide emerges in the use of AI for financial guidance, with one-quarter of individuals under the age of 46 having utilized AI, in contrast to just 7% of baby boomers. Internet research emerged as the most popular source of financial guidance across all generations, with a majority of baby boomers seeking professional financial advice, while far fewer Gen Z and millennials followed suit.
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