Watching Your Wallet: Using AI for your finances – abc30.com
FRESNO, Calif. (KFSN) — With AI-driven tools automating routine tasks, more families are turning to artificial intelligence to improve efficiency in their personal and professional lives.
Matt Britton, a bestselling author of Generation AI and the CEO of Suzy, an enterprise consumer research platform, says digital tools are no longer optional in modern society, particularly as AI expands into everyday services such as banking.
"We've kinda left the phase where you can not be digital in this society and I think over time it'll be a trade off, the more you trust AI, the more you'll get out of it," Britton said.
Britton said artificial intelligence is fueling a broader shift in how families understand and manage their finances. He said AI-powered tools can provide insights that were previously difficult for consumers to access on their own.
"AI is going to make it easier for families to understand how they're spending money. how it stacks up against other people in their income class. It'll show insights into maybe where you're overspending or over budget in certain months," he said.
Several apps now offer AI-powered financial assistants capable of tracking spending, managing expenses and even helping with taxes.
But Britton cautioned that growing concerns about data privacy may make some people hesitant to rely too heavily on these tools.
"I think understanding what the risks are, what the opportunity and benefits are, will help future proof yourself and what I think is going to be a new realm of societal evolution," Britton said.
He also warned against over-reliance on artificial intelligence, especially when it comes to financial decision-making.
Consumers should research not only the apps they choose to use, but also any financial advice those platforms provide.
"I think the same with healthcare advice, financial advice is the same in you have to be your own best advocate," Britton said.
As AI becomes more embedded in personal finance, parents face new questions about teaching financial literacy to their children, particularly when an algorithm may be their first financial adviser.
Britton said the focus should remain on core principles rather than technical tools.
"It's really more about realizing the value of a dollar the value of saving the value of compound interest the value of budgeting vs maybe the technicality of it," he said.
For news updates, follow Vanessa Vasconcelos on Facebook, X and Instagram.
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This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
Matt Britton, a bestselling author of Generation AI and the CEO of Suzy, an enterprise consumer research platform, says digital tools are no longer optional in modern society, particularly as AI expands into everyday services such as banking.
"We've kinda left the phase where you can not be digital in this society and I think over time it'll be a trade off, the more you trust AI, the more you'll get out of it," Britton said.
Britton said artificial intelligence is fueling a broader shift in how families understand and manage their finances. He said AI-powered tools can provide insights that were previously difficult for consumers to access on their own.
"AI is going to make it easier for families to understand how they're spending money. how it stacks up against other people in their income class. It'll show insights into maybe where you're overspending or over budget in certain months," he said.
Several apps now offer AI-powered financial assistants capable of tracking spending, managing expenses and even helping with taxes.
But Britton cautioned that growing concerns about data privacy may make some people hesitant to rely too heavily on these tools.
"I think understanding what the risks are, what the opportunity and benefits are, will help future proof yourself and what I think is going to be a new realm of societal evolution," Britton said.
He also warned against over-reliance on artificial intelligence, especially when it comes to financial decision-making.
Consumers should research not only the apps they choose to use, but also any financial advice those platforms provide.
"I think the same with healthcare advice, financial advice is the same in you have to be your own best advocate," Britton said.
As AI becomes more embedded in personal finance, parents face new questions about teaching financial literacy to their children, particularly when an algorithm may be their first financial adviser.
Britton said the focus should remain on core principles rather than technical tools.
"It's really more about realizing the value of a dollar the value of saving the value of compound interest the value of budgeting vs maybe the technicality of it," he said.
For news updates, follow Vanessa Vasconcelos on Facebook, X and Instagram.
source
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
