Struggling Americans Seek Financial Guidance from AI Tools and Human Advisors Alike
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Many Americans are struggling to achieve financial goals and feel behind, citing factors like inflation, insufficient retirement savings, and housing unaffordability.
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Generative AI like ChatGPT can provide personalized financial advice and information to help consumers manage finances and budgeting.
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While AI tools can be useful, they may generate unreliable content and cannot replace human judgment from a financial advisor.
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Financial advisors are also utilizing AI to streamline tasks like research, analysis, and reporting. However, AI cannot ask clients follow-up questions.
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Consumers have options like robo-advisors for algorithm-driven investing or traditional human advisors for more complex planning like estate management.