Half of UK adults have turned to AI for financial advice, including popular tools like ChatGPT and Claude. While many embrace AI for tasks like writing and mental health support, there are concerns about reliability in financial matters. A recent Lloyds Banking Group study revealed that 83% of AI users worry about data privacy, with similar numbers expressing concerns about accuracy and personalization. For individuals struggling with budgeting—like 24-year-old Ben from Hull—AI can provide valuable tips but should be used cautiously. Experts advise complementing AI recommendations with insights from reputable sources such as MoneyHelper, financial apps like Plum, and advice from qualified financial advisors. Additionally, users should be mindful about sharing personal financial information online. As AI becomes increasingly integrated into personal finance, it’s essential to balance technological assistance with advice from qualified professionals to ensure sound financial decision-making.
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