Financial Times: Some 49 per cent of consumers have used AI over the past six months to support their decisions, while 37 per cent said they would find AI “very” or “extremely” helpful for providing personalised financial advice or automating financial decisions.
My Opinion: It looks like about half of people are leveraging LLMs to make investment decisions, in the 23 countries surveyed. According to research, about the same percent of investors in UK are using professional advisors or AI to make investment decisions.
But the usage of AI is higher among younger people. As many of them are using free AI tools like ChatGPT, AI advice is also cheaper. If you have financial and digital literacy, you should use your own judgement to make investment decisions, which you can support with research from AI tools.
Consumers turn to AI for investment decisions
byu/truthandfreedom3 ineconomy
Posted by truthandfreedom3
1 Comment
I bet most just use it to check if the stock’s return has x10 potential or something.
“ChatGPT said this meme stock has a really good chance to skyrocket soon! Guess it’s a certain win! Lemme go put most of my savings in it.”