Gen Z, Millennials Seek AI for Finance Tips
Published Date : 05/11/2024
A recent Experian report reveals that a significant number of Gen Zers and millennials are leveraging artificial intelligence tools, such as ChatGPT, to manage their personal finances. These AI tools are helping users with tasks like budgeting, investment planning, and credit score improvement.
Karrastock | Moment | Getty Images\n\nPeople are increasingly turning to artificial intelligence (AI) for tasks like writing resumes and cover letters, and even for personal finance advice. While these insights can be valuable, financial advisors caution that AI should not be the only resource.\n\nA new report by Experian found that 67% of Gen Zers and 62% of millennials are using artificial intelligence to help with their personal finances. These users have found AI tools, such as ChatGPT, useful in areas including saving and budgeting (60%), investment planning (48%), and credit score improvement (48%).\n\n\
Frequently Asked Questions (FAQS):
Q: What percentage of Gen Zers and millennials use AI for personal finance?
A: According to the Experian report, 67% of Gen Zers and 62% of millennials use artificial intelligence to help with their personal finances.
Q: What are some areas where AI has helped in personal finance?
A: AI tools have helped users in areas such as saving and budgeting (60%), investment planning (48%), and credit score improvement (48%).
Q: Why should users be cautious about using AI for financial advice?
A: While AI can provide valuable insights, it can also generate misinformation. Users should always verify AI-generated information through external resources and seek personalized advice from financial experts.
Q: What are some risks associated with sharing personal financial details with AI tools?
A: Sharing specific personal and financial details with AI tools can put your privacy at risk. It's important to be cautious and protect your information.
Q: What is the advice of financial experts regarding the use of AI for complex financial matters?
A: Financial experts recommend using AI as a starting point for complex financial matters, but they stress the importance of verifying the information and seeking personalized advice from financial advisors and accountants.