Poll shows a third of Canadians use AI to manage finances. Should they? – National [Video]

Younger Canadians in particular are turning to artificial intelligence to shape their finances, a survey released this week shows.

Experts tell Global News there are many tasks that AI is well-equipped to handle when it comes to making money decisions, but there are limits to how Canadians ought to rely on the evolving tech.

The Bank of Montreal tapped Ipsos to poll Canadians on how they’re using AI in their financial planning.

Roughly a third of respondents to the poll said they use AI to help steer their finances, according to the report released Monday.

Most commonly, Canadians are using AI to boost their financial literacy (43 per cent), set up household budgets (43 per cent), figure out new investment strategies (42 per cent) and build their savings (40 per cent).

Gayle Ramsay, head of everyday banking and customer growth at BMO, tells Global News many Canadians might not know that AI is already embedded in online banking tools.

She gives the example of …