A new Gallup survey reveals an interesting trend in how Americans manage their money. While many are turning to artificial intelligence for guidance, actual trust in the technology remains low. Approximately one in five people who sought financial advice over the last year used AI, yet only 3% reported having a great deal of confidence in the output. The data highlights a significant gap between the tools people use and the sources they actually trust.
Most U.S. adults prefer traditional methods for money management. Financial advisers maintain a high level of trust, with eight in ten adults expressing confidence in their expertise. Despite this, only about one-third of those seeking guidance actually hire a professional. A vast majority, roughly 73%, rely on their own internet research instead. This preference persists even as AI accessibility grows.
Demographics play a role in how these tools are used. Younger generations show a higher tendency to test AI for financial questions, while older adults and baby boomers are much more likely to work with human advisers. Experts note that affordability is a major factor in this divide. Hiring a professional involves costs that many younger adults are not yet prepared to handle.
Financial professionals offer a word of caution regarding these digital tools. While AI serves as a useful starting point to define concepts or clarify terms, it lacks the legal responsibilities of a human fiduciary. When you follow advice generated by a machine, you remain solely responsible for the outcome. For the best results, experts recommend using technology to build foundational knowledge, but verify that information through established, human-led sources.