According to a recent survey from the Certified Financial Planner Board, nearly one-third of investors said they would be comfortable following financial advice from AI without verifying the information first.
The survey of over 1,100 Americans found that 31% would be fine taking unverified AI investing guidance, while only 52% were interested in receiving AI advice at all.
Of those who have used AI tools, 80% expressed some satisfaction, with older users more likely to be happy compared to those under 45.
Interestingly, respondents felt more comfortable following unconfirmed AI advice versus social media tips. But all ages said verifying AI or social media guidance with an advisor made them more comfortable.
Previously, more investors had started turning to friends, influencers, and social media for investing input versus professionals.
But the rise of AI chatbots like ChatGPT now seems to have overtaken social media as the preferred route for many retail investors, albeit often without verification.
While AI holds promise for democratizing financial planning, blindly following investment guidance without scrutiny raises risks. Most say human verification remains crucial, at least for now, until generative AI can prove reliability and accountability.
