Most Americans have never used Chat GPT. The majority aren’t interested in using generative artificial intelligence (AI) tools specifically for financial advice, either, according to a new CNBC Your Money Survey.
The survey found that 37% of U.S. adults are interested in using AI tools to help them manage their money. 11% of respondents are “very interested” and 4% already use AI tools for money management.
Similarly, a recent CFP Board survey found that about half of adults — 51% — have little or no trust in financial advice from AI tools, such as Chat GPT and Google Bard, and only 31% are comfortable implementing financial advice from a generative AI-powered tool without verifying it with another source.
The CFP Board survey also found that investors demonstrate more confidence in advice from AI tools after vetting it with a financial planner.
When it comes to making important decisions about money, many prefer to talk it out with a financial advisor. These conversations happen over the course of a lifetime, are are deeply personal. It’s hard to replicate that with AI.
Related: Do You Think You Need a Financial Advisor? Start Here
The Bautis Financial team discussed this topic in a recent episode of The Agent of Wealth Podcast, “Experiments with Chat GPT.”
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