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Half of Brits would turn to AI for financial advice
A Post Office poll shows 50% of British adults use AI for financial advice, with 30% preferring it to avoid judgment, highlighting a generational shift in money management.
- A poll of 2,000 adults found half of British adults would turn to AI chatbots like ChatGPT, Co-pilot or Gemini for financial advice, alongside blogs and podcasts.
- Facing high costs, many people turn to unregulated guidance as banks, wealth managers, pensions firms and human advisers accepting clients with under 200,000 fell from 52% to 25%.
- Testing the chatbots showed one recommended investing 8,000 now and 8,000 later, while Emma Wall said, `'Overall, the guidance includes some of the core principles that investors should consider when developing a portfolio, such as considering your risk appetite before investing and how this would impact the mix of asset classes you should diversify across'`.
- The FCA proposes 'targeted support' soon to widen access, but Legrand-Green warned that protections do not apply to AI guidance, according to the regulator.
- Among younger cohorts, industry experts warning about consumer risk say that last year, 65% of Gen Z and 61% of millennials used AI for finances, amid concerns over the 'Wild Wild West' market.
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17 Articles
17 Articles
Southern Reporter+15 Reposted by 15 other sources
Half of Brits would turn to AI for financial advice
Half of Brits would turn to AI for financial advice including ways to save, ideas for reducing bills and guidance on setting goals.
·Selkirk, United Kingdom
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Total News Sources17
Leaning Left0Leaning Right0Center10Last UpdatedBias Distribution100% Center
Bias Distribution
- 100% of the sources are Center
100% Center
C 100%
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