Ted Jenkin Urges 66% of AI Finance Users to Treat Chatbots as Research Tools
Updated
Updated · TODAY · May 28
Ted Jenkin Urges 66% of AI Finance Users to Treat Chatbots as Research Tools
2 articles · Updated · TODAY · May 28
66% of generative-AI users surveyed by Credit Karma say they seek financial advice from it, prompting Ted Jenkin on TODAY to warn that AI should be a “study buddy,” not a decision-maker.
Jenkin said AI can still help with budgeting, basic financial education, comparing options and brainstorming savings ideas because it organizes information quickly and explains concepts in plain language.
He drew a hard line against entering Social Security numbers, passwords, account numbers or other personal details into AI tools, saying users can lose control of that data once shared.
Big moves such as retiring, selling a home, investing, tax planning or estate decisions should be verified with a human advisor or CPA because AI can be outdated, biased, overconfident and remains unregulated.
As AI evolves, could it become a safer financial guide than a human advisor for most people?
When AI's financial advice leads to ruin, who is legally and financially held responsible?