A recent survey conducted by Gallup and Edward Jones reveals that while many Americans are turning to artificial intelligence for financial guidance, trust in the technology remains low. Approximately one in five U.S. adults who sought financial advice over the past year used AI tools to navigate their money questions. Despite this adoption, only 30% of adults expressed confidence in AI for financial management, with a mere 3% saying they trust it a great deal.
There is a notable gap between the resources people value and the methods they actually employ. While 80% of Americans report confidence in human financial advisers, only one-third of those seeking advice actually consult a professional. Most people continue to rely on their own internet research to answer financial questions, with many others turning to friends or family members for input.
Experts note that younger generations are more likely to experiment with AI, often citing the cost of hiring human professionals as a barrier. Conversely, older adults lean more heavily on traditional financial advisers. Financial experts warn that while AI is useful for defining complex terms or explaining basic concepts, it lacks the legal fiduciary responsibilities required of human planners. Because AI does not have a comprehensive view of an individual's life, experts suggest using the technology primarily as a starting point for research rather than a final source of financial decision-making.