How to use artificial intelligence for personal finance [Video]

People are using artificial intelligence for tasks like writing and editing resumes and cover letters — and even to get personal finance advice. While some of those insights can be valuable, financial advisors caution that AI shouldn’t be your only resource.

A new report by Experian found that 67% of polled Gen Zers and 62% of surveyed millennials are using artificial intelligence to help with their personal finances. Users say that generative AI tools like ChatGPT have helped in areas including saving and budgeting (60%), investment planning (48%) and credit score improvement (48%).

“It’s free. It’s more accessible. It simplifies complex tasks like creating a budget,” said Christina Roman, consumer education and advocacy manager at Experian.

The survey polled 2,011 U.S. adults from August 30 to Sept. 3. The Gen Z respondents were ages 18 to 27 while millennials were ages 28 to 43.

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