In a survey, one-third portion of US-based investors have shown their willingness to rely on financial advice based on artificial intelligence (AI). AI technology is expanding rapidly and its demand is increasing day by day in almost every field. Recently, a survey was conducted if people are willing to follow the leads generated by AI to regulate their finances.
The report showed that in the United States, people are deeply interested in the growing AI technology. According to the CFPB survey, 31% of US-based investors are willing to follow the lead and advice generated through artificial intelligence (AI). Even the investors said that they won’t even bother to cross-verify the results or advice given by AI.
Certified Financial Planner Board’s Survey
On 22nd of August 2023, the Certified Planner Board shared a survey report which was previously conducted in July 2023. The survey included 1100 adults and started a poll for their point of view regarding the reliability of AI-based financial advice. One out of every three investors showed their keenness and willingness to rely on the financial advice of AI.
The survey disclosed that around 31% of the people got planned financial advice from AI. 80% of the participants showed some sort of contentment with the AI-generated results. Mainly participants of older ages seemed satisfied with those under 45.
Level of Satisfaction and Reliability
Before the AI innovation, investors used to consult friends, social media and influencers to seek effective advice. But now, AI chatbots have changed the perspective of people regarding different areas of interest.
In the survey, it was depicted that people who are willing to rely upon and seek advice from AI regarding finance seem to be satisfied. They said that they can entirely rely on AI-based financial advice and will not cross-verify the authenticity of the advice. Moreover, survey depicts that 52% of the participants are interested to get financial advice in their future dealings.
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