BEworks

A recent RBC poll, conducted by Ipsos, found younger Canadians were much more likely than older demographics to turn to to help manage their finances.

Dr. David Lewis, President of BEworks Research Institute, points out an interesting phenomenon. People tend to feel more at ease sharing their financial details with an AI, finding it especially advantageous for those just embarking on their financial journey.

"We're more willing to be honest with the computer because we don't view a computer as judging us, but we view humans as a judge," he said.

So, the question arises: Could be the future of financial guidance?

Financial expert Kelley Keehn, founder, Money Wise Workplaces recently put ChatGPT to the test to craft a financial plan for a young Canadian family with big dreams but significant debt. While the AI-generated advice offered many recommendations, it lacked the specificity needed for their unique situation.

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Financial advice from AI may be educational but not holistic, experts say TORONTO — As an experiment, Kelley Keehn asked ChatGPT to suggest a financial plan for a small Canadian family. She prompted the artificial intelligence software to craft a plan for a couple in their 30s who have two young children and want to save for a house. They're dealing withhefty debt and h...