Use AI for investing at your own risk, warns watchdog

Use AI for investing at your own risk, warns watchdog

The financial watchdog has warned Brits using AI for investment advice that they may not be protected if things go wrong as more people turn to online chatbots. Four in five inexperienced investors admitted to using AI tools for help with their investment decision, according to the latest research from the Financial Conduct Authority (FCA). The findings come as people increasingly turn to online chatbots for help, as traditional financial advice…

No safety net for people using AI chatbots for help investing, watchdog warns

The FCA’s survey of 18-40-year-olds who own or are considering investments found that 56% trust AI tools.

FCA warns young investors over misplaced trust in AI

Almost half of young investors wrongly believe AI-generated financial information is regulated, according to new data from the Financial Conduct Authority (FCA). It also shows that they are increasingly trusting artificial intelligence over traditional media and celebrities to guide financial decisions despite widespread misunderstandings about… The post FCA warns young investors over misplaced trust in AI appeared first on Money Marketing.

Young investors trust AI more than TV or celebrities

Four in five less experienced investors have used AI for help with investing – and around two-thirds report doing so occasionally or regularly.  New research focused on 18-40 years olds who own or are considering investments showed that 56% trust AI tools, more than TV and radio (47%), press (46%) or social media influencers (29%). And people are getting more comfortable, with two-thirds expecting to lean on AI even more over the next year. But …

Why investors shouldn’t solely rely on AI for investing information