A recent survey by BrokerChooser highlights the growing reliance on AI tools for financial advice among UK adults, with about 2.7 million individuals using these tools for money management. Over half (52%) of users would act on AI-generated advice, even as studies reveal AI can provide incorrect information nearly half the time. The survey indicates 29% of UK adults engage with AI for financial decision-making, with millennials (53%) and Gen Z (46%) leading in usage. Notably, higher earners are more inclined to trust AI, while older demographics prefer traditional financial advisors, with nearly 60% of adults aged 55+ choosing human advice. AI is mostly used for low-risk tasks like budgeting, though a significant portion also seeks investment guidance. Experts warn that AI should inform decisions rather than dictate them, cautioning users to verify recommendations with regulated sources. This trend underscores the balance between increasing AI integration and the need for human oversight in financial matters.
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