--- title: 4 in 10 Americans Think AI Could Help Them Manage Their Money description: A new report shows that Americans are warming up to the idea of using AI to help them nearer to their personal finance goals. authors: - name: Brenden Rearick role: Reporter url: https://money.com/author/brenden-rearick/ bio: Brenden Rearick is a former reporter at Money who specialized in covering breaking news and enterprise stories about credit cards, real estate, investing, and personal finance trends. education: University of Pittsburgh, BA at_money_since: 2023 articles: 133 covers: - Personal Finance - Banking - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Housing - Insurance - Investing - Lifestyle - Loans - Mortgages - Professional Services - Retirement - Shopping - Taxes - Technology former_staff: true editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Personal Finance - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2023-08-18T15:04:32.000Z' modified: '2024-01-10T12:52:00.000Z' section: Personal Finance tags: - News word_count: 717 canonical: https://money.com/ai-could-help-manage-money/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Illustration of a person letting a robot Ai manage their money](https://img.money.com/2023/08/News-Americans-Willing-to-Use-AI-Manage-Their-Money.jpg?crop=0px%2C233px%2C2880px%2C1620px&quality=85) [Investing in artificial intelligence](https://money.com/are-ai-stocks-in-a-bubble/) is becoming popular, but what about artificial intelligence investing in *you*? According to new poll results shared exclusively with Money, Americans are becoming increasingly willing to let AI manage their personal finances as the technology goes mainstream. Personal finance company [Intuit Credit Karma](https://creditkarma.com/) conducted an online survey in early July, asking roughly 1,000 U.S. adults for their thoughts on using AI for managing their money. The Intuit Credit Karma data shows that Americans are warming up to mixing AI and money. Of the investors who responded to the survey, 4 in 10 say they think AI can be a useful tool for [managing their finances](https://money.com/best-strategy-invest-in-ai/). For investors who have already used AI, this openness trends higher. Of the roughly one-quarter of respondents who have used AI before, 57% say they are willing to [use the technology for financial purposes](https://money.com/investors-using-ai-to-manage-portfolios/) if it eliminates their money problems. In fact, one-third of this experienced bunch say that they would trust AI *more* than a human to manage their finances. Of course, the level of money management people are willing to cede to AI is different from person to person. At least one-quarter of respondents say they would use it to help [pay down debts](https://money.com/how-to-pay-off-debt/), manage expenses and [budgeting](https://money.com/budgeting-101-how-to-budget-money/), or [plan for retirement](https://money.com/retiring-in-2023/). The most popular potential applications for the technology, though, seem to be more hands-off: Some 4 in 10 say they’d use AI simply to answer financial questions, while 3 in 10 want to use the technology to better understand their range of accounts and investments. ## What it means It might be surprising to see so much optimism toward AI, especially in letting it make financial decisions for investors. Not only is it a new concept to most people, but it's also been scrutinized for being incorrect and impersonal. This runs contrary to a longstanding emphasis on finding [financial advisors](https://money.com/what-is-a-financial-advisor/) who can tailor their expert guidance to each individual. After all, other polls have shown a sizable *dis*trust toward AI in making a number of other important decisions; a majority of people think humans are better than AI in anything from writing laws or doing jobs to simply picking out a decent work outfit. A [survey](https://news.nationwide.com/download/e3b1cd4f-6376-41ae-8447-9607e695f919/economicimpactsurveyfindings.pdf) by insurance company Nationwide shows this skepticism doesn't fall short of the finance world: Some 35% of Americans say they don't see AI providing financial insight more valuable than a human expert's at all in the next five years. ## Bottom line Supriya Gupta, vice president of product at Intuit Credit Karma, theorizes that this welcoming attitude is simply people getting more familiar with the tech behind AI. "Things that have the potential to change our everyday lives can feel scary," Gupta tells Money. "But, like we’ve seen with previous technological shifts, technology can make our lives easier." Gupta goes on to say that generative AI technology has, to its own benefit, become increasingly accessible to investors. For years, AI seemed like nothing more than a buzzword or a technology used exclusively in lab settings. With the advent of tools like ChatGPT and Bard, however, people are growing accustomed to it in a way they hadn't before, perhaps increasing the trust reflected in the poll. "When you apply this technology to more complex aspects of life — like finances — something nearly everyone struggles with, the promise of generative AI becomes even more meaningful for consumers," she says. As for the still-skeptical investors out there, it looks as though more trust-building is still required. Some of those who are less willing to use AI say they are looking for institutions they already trust (banks and personal finance apps, for example) to build their own AI products. Others say regulations would put them more at ease. Almost 4 in 10 say tighter rules and security are crucial to earning their trust. While there haven't been new federal regulations since the surge in popularity of AI bots, the White House has issued an ["AI Bill of Rights"](https://www.whitehouse.gov/ostp/ai-bill-of-rights/) intended to protect consumers from misuse of the technology. [Millennials and Gen Zers Are Losing Sleep Due to Financial Anxiety](https://money.com/millennials-genz-financial-anxiety/) [As Credit Card Debt Hits $1 Trillion, Here Are 5 Ways to Pay off Your Balance](https://money.com/pay-off-credit-card-debt-1-trillion/) [45% of Student Loan Borrowers Expect to Go Delinquent When Payments Resume](https://money.com/student-loan-borrowers-expect-delinquent/) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/ai-could-help-manage-money/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Personal Finance", "item": "https://money.com/personal-finance/" }, { "@type": "ListItem", "position": 3, "name": "Money Management", "item": "https://money.com/money-management/" }, { "@type": "ListItem", "position": 4, "name": "4 in 10 Americans Think AI Could Help Them Manage Their Money" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/ai-could-help-manage-money/#webpage", "url": "https://money.com/ai-could-help-manage-money/", "name": "4 in 10 Americans Think AI Could Help Them Manage Their Money", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2023-08-18T15:04:32.000Z", "mainEntity": { "@id": "https://money.com/ai-could-help-manage-money/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/ai-could-help-manage-money/#breadcrumb" }, "dateModified": "2024-01-10T12:52:00.000Z" }, { "@type": "NewsArticle", "headline": "4 in 10 Americans Think AI Could Help Them Manage Their Money", "articleSection": "Personal Finance", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2023/08/News-Americans-Willing-to-Use-AI-Manage-Their-Money.jpg?crop=0px%2C233px%2C2880px%2C1620px&quality=85", "width": 1012, "height": 569, "caption": "News-Americans-Willing-to-Use-AI-Manage-Their-Money" } ], "author": [ { "@type": "Person", "name": "Brenden Rearick", "url": "https://money.com/author/brenden-rearick/", "@id": "https://money.com/author/brenden-rearick/#author", "description": "Brenden Rearick is a former reporter at Money who specialized in covering breaking news and enterprise stories about credit cards, real estate, investing, and personal finance trends.\r\n\r\n", "email": "brenden.rearick@money.com", "alumniOf": "University of Pittsburgh, BA" } ], "publisher": "https://money.com/#organization", "datePublished": "2023-08-18T15:04:32.000Z", "description": "A new report shows that Americans are warming up to the idea of using AI to help them nearer to their personal finance goals.", "abstract": "A new report shows that Americans are warming up to the idea of using AI to help them nearer to their personal finance goals.", "@id": "https://money.com/ai-could-help-manage-money/", "inLanguage": "en-US", "dateModified": "2024-01-10T12:52:00.000Z", "editor": [ { "@type": "Person", "name": "Julia Glum", "url": "https://money.com/author/julia-glum/", "@id": "https://money.com/author/julia-glum/#author", "description": "Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. 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