The rise of fin-AI: Why Americans are trusting generative AI with their wallets
The rise of fin-AI: Why Americans are trusting generative AI with their wallets
Generative artificial intelligence has quickly become a go-to resource for consumers, from trip planning and meal prepping to dating advice and even money management. Providing users instant access to personalized insights on spending habits, budgeting tips, and even investment strategy, gen AI tools like ChatGPT are taking the role of financial advisor for many. While it’s a simpler, more accessible alternative to working with a finance professional – no appointments, no jargon, and no fear of being judged for asking basic (or deeply personal) money questions – is it actually helping American’s finances?
According to new data from Intuit Credit Karma, 66% of Americans surveyed who have used gen AI before say they have used it to seek financial advice, rising to 82% of Gen Z and Millennials. In fact, finance ranks as the second most common use case for gen AI (41%), just behind health and wellness (44%). And it’s not just the occasional one-off question. Nearly two-thirds (65%) of gen AI users say they seek financial guidance from AI often, while 3 in 4 (75%) say they feel it lets them ask the financial questions they’d be too embarrassed to ask anyone else.
Gen AI’s most-asked money questions
Those turning to gen AI for financial guidance use it for everything from help with the fundamentals to more complex topics, such as tax filing and investing. Among respondents using gen AI to seek financial advice, the most common topics include financial education and basic personal finance concepts (35%), financial goal setting and action plans (35%), budgeting and expense management (34%), optimizing savings (33%), saving for retirement (31%), and investing in the stock market (32%). AI is proving it can answer a wide range of financial questions consumers face on a daily basis, making it a natural place to turn for financial advice.
The results: More confidence, but not without risk
Americans are putting AI-generated financial recommendations into practice, making it clear trust in these tools is growing. In fact, 85% of respondents who have used generative AI for financial advice have acted on the recommendations provided. Among them, 80% say their financial situation has improved thanks to gen AI, and 81% feel more confident managing their finances because of gen AI. Furthermore, when it comes to consumer sentiment around gen AI in general, 79% of users find the information generated to be accurate and 71% consider it helpful.
But it’s not all without risk. Of those who have acted on financial advice they received from generative AI, 52% say they have made a poor financial decision or mistake based on the information they received.
Many gen AI users are treating it as a starting point when it comes to decision-making, as 80% of those who have acted on financial advice they received from gen AI say they still research and validate the advice before taking action.
Why some prefer gen AI for money matters
Even with the rapid rise of generative AI as a helpful resource for almost anything, Americans still turn to a mix of online platforms and tools for financial guidance. Among the 51% of Americans who seek financial advice or information online, 27% consider social media the most useful source, followed by Google or other search engines (20%), with gen AI tools like ChatGPT or Gemini close behind (18%). This could be because 51% say their top concern about using gen AI for financial advice/information is security and privacy.
However, many consumers still see clear advantages in generative AI. Of those who have used gen AI for financial advice, nearly half (48%) say it’s faster and more direct than social media, 45% say it explains financial concepts more clearly or in simpler terms, and 44% believe it delivers more personalized advice based on the individual’s specific situation.
“Gen AI is a powerful tool for learning, planning, and managing your money in more personalized ways,” said Courtney Alev, consumer financial advocate at Intuit Credit Karma. “It can do more than just explain concepts, it can help consumers take action based on their unique financial goals and current situation. While these tools put smart insights at your fingertips, it’s also important to understand your options and how they fit into your bigger financial picture. Finances are nuanced and deeply personal, so if you’re ever unsure, it never hurts to get a second opinion.”
Methodology
This survey was conducted online within the United States by Intuit Credit Karma Aug. 7-14, 2025, among 1,019 adults ages 18 and older.
This story was produced by Intuit Credit Karma and reviewed and distributed by Stacker.
