Americans are using AI for financial advice more than you think

finance.yahoo.com ∙ Tuesday, February 17, 2026

Americans are using AI for financial advice more than you think

Top line

Americans are increasingly using AI for financial advice, but must prioritize privacy and use it cautiously as a decision-support tool rather than a sole advisor.

Summary

Artificial Intelligence (AI) is increasingly being adopted by Americans for personal financial advice, with a significant percentage using tools like ChatGPT and trusting AI for financial guidance, according to FNBO's 2025 Financial Wellbeing Study. While financial institutions have long used AI for services like fraud detection and personalized recommendations, platforms like ChatGPT and Gemini are now directly accessible to consumers for budgeting and planning. Experts acknowledge AI's growing capabilities in methodical financial planning, though they emphasize that human advisors still provide crucial elements like relationships and emotional guidance. However, the rapid integration of AI raises significant concerns about privacy and security; studies from PYMNTS.com and IBM highlight user worries and organizational breaches related to AI, citing vulnerabilities and lack of oversight. To mitigate these risks, individuals are urged to review AI platform privacy policies, avoid oversharing sensitive personal information, and use AI as a tool to augment decision-making rather than replace personal judgment.

Highlights

Artificial Intelligence (AI) has transitioned from a novel technology to an everyday tool, now being utilized for personal financial advice.
According to FNBO's 2025 Financial Wellbeing Study, 46% of Americans have used AI tools like ChatGPT for personal finances, and an additional 50% trust AI for financial advice.
Financial institutions commonly employ AI for customer support chat, fraud detection, credit scoring, personalized product recommendations, and multifactor authentication.
Platforms such as ChatGPT and Gemini empower individuals to generate personalized financial solutions and budgets.
Certified Financial Planner Andrew Latham notes that AI can replicate methodical planning steps, but human advisors still offer irreplaceable value in relationships, accountability, and emotional guidance during volatile markets.
Despite rapid AI evolution, user and expert concerns persist, particularly regarding privacy and increased dependence on technology.
A 2024 PYMNTS.com study indicates consumer worries about privacy breaches when using AI.
An IBM report from 2025 reveals that 13% of organizations experienced breaches of AI models or applications, with 8% unsure of any compromises, highlighting a gap between AI adoption and oversight.
IBM's Vice President Suja Viswesan warns that threat actors are exploiting AI vulnerabilities due to a lack of basic access controls, leading to exposed sensitive data and manipulated models.
AI can serve as a valuable tool, especially for those unable to afford professional advice.
Responsible AI use involves reviewing platform privacy policies and settings, such as disabling conversation archiving.
Users are advised to avoid oversharing sensitive personal details like names or dates of birth to protect against leaks.
AI should be used to expand thinking and explore options, not to outsource judgment; final financial decisions should align with personal goals, risk tolerance, and common sense.
The article also references related AI applications in finance, such as making holiday shopping easier, aiding New Year's resolution goal-setting, building budgets, and the rise of 'finfluencers' on social media.

Americans are using AI for financial advice more than you think

finance.yahoo.com ∙ Tuesday, February 17, 2026

Top line

Americans are increasingly using AI for financial advice, but must prioritize privacy and use it cautiously as a decision-support tool rather than a sole advisor.

Summary

Highlights

Artificial Intelligence (AI) has transitioned from a novel technology to an everyday tool, now being utilized for personal financial advice.
According to FNBO's 2025 Financial Wellbeing Study, 46% of Americans have used AI tools like ChatGPT for personal finances, and an additional 50% trust AI for financial advice.
Financial institutions commonly employ AI for customer support chat, fraud detection, credit scoring, personalized product recommendations, and multifactor authentication.
Platforms such as ChatGPT and Gemini empower individuals to generate personalized financial solutions and budgets.
Certified Financial Planner Andrew Latham notes that AI can replicate methodical planning steps, but human advisors still offer irreplaceable value in relationships, accountability, and emotional guidance during volatile markets.
Despite rapid AI evolution, user and expert concerns persist, particularly regarding privacy and increased dependence on technology.
A 2024 PYMNTS.com study indicates consumer worries about privacy breaches when using AI.
An IBM report from 2025 reveals that 13% of organizations experienced breaches of AI models or applications, with 8% unsure of any compromises, highlighting a gap between AI adoption and oversight.
IBM's Vice President Suja Viswesan warns that threat actors are exploiting AI vulnerabilities due to a lack of basic access controls, leading to exposed sensitive data and manipulated models.
AI can serve as a valuable tool, especially for those unable to afford professional advice.
Responsible AI use involves reviewing platform privacy policies and settings, such as disabling conversation archiving.
Users are advised to avoid oversharing sensitive personal details like names or dates of birth to protect against leaks.
AI should be used to expand thinking and explore options, not to outsource judgment; final financial decisions should align with personal goals, risk tolerance, and common sense.
The article also references related AI applications in finance, such as making holiday shopping easier, aiding New Year's resolution goal-setting, building budgets, and the rise of 'finfluencers' on social media.