Generative AI is becoming the first point of contact for many people with financial questions. According to a BrokerChooser survey, almost one in three respondents has already used AI-based financial advice, and more than half would follow such recommendations. That may be convenient, but it is risky: general AI tools are not regulated financial advisers and can provide incorrect or unsuitable recommendations.
AI Is Becoming a Financial Guide
Many consumers are no longer using AI tools only for texts, travel or everyday questions, but also for financial decisions. According to a BrokerChooser survey of 2,000 adults, 29.10percent of respondents have already used an AI tool such as ChatGPT or Copilot to receive financial advice on money, saving, investing or debt.
A further 30.95percent have not yet used AI for this purpose but would consider doing so. In total, 60.05percent are therefore open to using AI for financial questions. 39.95percent reject such use altogether.
Young Investors Are Driving the Trend
Usage is particularly strong among younger age groups. Among 25- to 34-year-olds, 53.98percent have already used AI for financial advice. Among Gen Z, meaning 18- to 24-year-olds, the figure is 46.70percent. Usage declines significantly with age: among 45- to 54-year-olds, the share is 26.95percent, while among those over 55 it is below 10percent.
This shows how strongly financial information is shifting into everyday digital spaces. People who grew up with search engines, social media and chatbots often see AI as a fast, low-threshold way to access topics that previously required bank advice, specialist portals or more extensive research.
Regular Use Is Becoming Normal
Among respondents who already use AI for financial questions, usage is often no longer an exception. 16.84percent use AI tools daily, while another 25.43percent use them four to six days per week. Usage is especially intense among 35- to 44-year-olds: in this group, 21.90percent consult AI daily on financial topics.
According to BrokerChooser, AI is used for financial decisions on an average of 3.1 days per week. This means it is moving from an occasional research tool toward a financial habit.
The Risk Rises With Investments
AI use is least problematic where it provides general orientation: for example, when comparing savings rates, creating a budget or planning financial goals. According to the survey, 43.46percent use AI to find better savings rates, 38percent for budgeting questions and 33.06percent for goals such as buying a home or saving for a holiday.
It becomes more critical when investments are involved. 29.64percent of users rely on AI to select or compare investments. 21.82percent even use AI for stock market forecasts. This is where the risk increases: markets react to interest rates, politics, company figures and sentiment. A chatbot can explain historical patterns, but it cannot provide reliable individual investment advice.
More Than Half Would Follow AI Tips
The key question is whether people merely read AI advice or actually act on it. According to BrokerChooser, 52.85percent of respondents would follow financial tips from an AI tool. 35.60percent say this is fairly likely, 14.30percent say it is very likely, and 2.95percent say they always follow AI financial advice.
Here, too, younger groups are significantly more open. Among 25- to 34-year-olds, 76.40percent would follow AI recommendations; among 35- to 44-year-olds, the figure is 70.29percent. Among those over 55, by contrast, the share is 30.84percent.
There is also a notable link with income. Among respondents earning more than €85,000, 72.93percent would follow AI financial tips. This could mean larger losses if recommendations are wrong, incomplete or unsuitable for their personal risk profile.
Human Advice Still Leads
Despite strong openness toward AI, many people still prefer professional advice. If cost were not a factor, 43.88percent would choose a traditional financial adviser. 31.72percent trust AI and human advisers equally, while 14.49percent would prefer AI.
Among Millennials, however, the shift is clear. 35.90percent of 25- to 34-year-olds consider AI and human advisers equally capable. A further 16.90percent would choose AI over a human financial adviser.
Not Regulated Financial Advice
The central issue remains responsibility. General AI chatbots are not financial advisers regulated by the financial authorities. They usually do not know a user’s full financial situation, risk tolerance, tax position, debt level, investment horizon or retirement needs. They can also sound convincing even when the answer is wrong or unsuitable.
For consumers, this means that AI can help explain terms, structure questions or support initial research. But it should not be the sole basis for decisions on stocks, funds, debt strategies or retirement planning.
The trend is nevertheless clear. Financial advice is becoming more digital, faster and more strongly shaped by AI. For banks, brokers, consumer advocates and regulators, this creates a new task: they must educate people not only about investing, but also about the limits of machine-generated advice.
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