A third of US investors are open to trusting AI financial recommendation: Survey


Around one in three United States investors could be open to following AI-generated financial recommendation with out verifying it with one other supply, in accordance to a current survey.

On Aug. 22, the Certified Financial Planner Board of Standards released the outcomes of a ballot that surveyed over 1,100 adults in early July. 

Only 31% of the respondents had really obtained financial planning recommendation from AI, with 80% recorded some stage of satisfaction with the expertise. Older respondents had been extra possible to be happy with the expertise in contrast to these underneath 45 years of age.

However, almost a third of all surveyed respondents, whether or not they have tried it or not, indicated they’d be snug taking recommendation with out verifying it.

Before the wave of AI chatbots, equivalent to OpenAI’s ChatGPT and Google’s Bard, it had been famous that extra investors had been beginning to rely on friends, influencers, and social media for funding recommendation.

Interestingly, the newest survey discovered generative AI instruments have beat out social media throughout all ages, with investors surveyed saying they had been comparatively extra snug utilizing AI financial advice with out verifying the knowledge, in contrast to social media.

26% cited consolation in utilizing unverified financial recommendation from social media, in contrast to 31% citing the identical from a generative AI software. Source: CFP Board

The CFP Board claimed, nevertheless, that investors of all ages cited being extra snug with AI-generated and social media-derived financial recommendation if it was verified by a financial advisor.

Related: OpenAI gets lukewarm response to customized AI offering

Experience utilizing AI for financial recommendation was low however was largely satisfying for individuals who had. Source: CFP Board

The findings, nevertheless, discovered that solely 52% of the respondents had been occupied with receiving AI-created financial recommendation sooner or later. 

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