Americans are increasingly turning to artificial intelligence for help with their money, but apparently asking a chatbot for financial advice and actually trusting that advice are two very different things.
New research from New York Life finds that 27 percent of Americans used AI for a financial question during the past year. Among those who sought financial guidance from AI, 82 percent rated the advice as at least good. Despite that apparent satisfaction, just 23 percent acted on the advice without seeking additional validation.
Instead, 54 percent conducted their own internet search, 31 percent consulted a friend or family member, and 29 percent checked another AI tool before moving forward.
The hesitation isn’t particularly surprising. An AI chatbot might know plenty about investing, budgeting, or retirement, but that doesn’t mean it understands the person asking the question. In the survey, 62 percent of Americans said AI tools don’t understand their personal financial situation very well.
For now, people appear most interested in using AI for the basics. Among those asking financial questions, 42 percent used it for budgeting and saving, 39 percent for investing basics, and 31 percent for general financial education. Just 12 percent asked about retirement planning, while 10 percent used AI to help develop a broader financial strategy.
Gen Z offers one of the more interesting contradictions. It was the generation most likely to use AI for financial questions, with 45 percent doing so during the past year. At the same time, 40 percent of Gen Z adults said access to AI has actually increased their need for a human financial professional. Across all adults, that figure was 27 percent.
Americans aren’t necessarily opposed to AI being involved with their finances either. Among people who already work with a financial professional, 47 percent said knowing that person uses AI increases their trust. That rises to 65 percent among Millennials and 61 percent among Gen Z, but falls to just 12 percent among Baby Boomers.
People seem especially comfortable when AI handles supporting tasks. Among Americans with a financial professional, 71 percent were comfortable with AI handling scheduling and reminders, 68 percent with meeting preparation, and 66 percent with document organization. Half even said they were comfortable with AI making automatic investment decisions without human review.
New York Life conducted the Wealth Watch survey online from July 21 through July 23, 2026, among 2,278 U.S. adults. The results were weighted to approximate the adult population using several demographic factors, and the company reports a margin of error of plus or minus 2 to 3 percentage points for the full survey.
Of course, there is some context worth considering. New York Life sells financial products and employs financial professionals, so research showing that Americans still value human financial guidance aligns rather nicely with its business. That doesn’t invalidate the numbers, but readers should know who’s asking the questions.
What stands out is how Americans appear to be treating AI today. They are willing to ask it about money and apparently think many of its answers are pretty good. When it comes time to actually do something with that advice, however, most still want another opinion.
AI may be able to explain what to do with your money. Convincing you to actually do it is another matter.
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