Some US adults are using AI for financial guidance but few trust it, Gallup poll finds

The Chat GPT app icon is seen on a smartphone screen, Aug. 4, 2025, in Chicago. (AP Photo/Kiichiro Sato, File) By ADRIANA MORGA Updated 2:30 PM MESZ, August 7, 2026 Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share Share Facebook Copy Link copied Print Email X LinkedIn Bluesky Flipboard Pinterest Reddit New York (AP) — Some U.S. adults are using Artificial Intelligence for financial guidance, but it’s far from the most trusted source of advice, according to a new Gallup survey conducted in partnership with Edward Jones, a financial services firm. About 1 in 5 Americans who have sought financial advice in the past year turned to AI, the survey found. But among U.S. adults overall, only about 3 in 10 have “a great deal” or “some” confidence in its expertise for managing money, according to the survey, including just 3% who trust AI “a great deal.” The poll, which was conducted in the spring and looked at the views of adults who are at least 21, found a disconnect between the resources Americans trust for financial advice and the ones they actually rely on. About 8 in 10 U.S. adults have at least “some” confidence in financial advisers. But only about one-third of U.S. adults who sought financial advice turned to a professional financial adviser, with far more, 73%, saying they relied on their own internet research. As the use of AI increases, financial experts say consumers should be cautious about fully trusting these tools. Using AI as a tool at the start of a learning journey and then combining this knowledge with other trusted sources can be the best way to engage with new and traditional financial guidance tools, said Taha Choukhmane, associate professor at MIT’s Sloan School of Management. “I would encourage people to use AI to explain and define,” Choukhmane said. “If you’re interested in knowing what the stock market is, what the difference between a mutual fund and an index fund is. Using AI to explain these concepts can be very useful because it can empower people to get the most out of these methods.” AI notetakers promise easy meeting recaps, but some professionals question their use 2 MIN READ 20 As AI ‘therapists’ dish out advice, California lawmakers try to set some limits 1 MIN READ SK Hynix rises nearly 13% in debut on Wall Street as demand for memory chips soars amid AI frenzy 1 MIN READ Most Americans have sought financial guidance from at least one source in the past year, the survey found. In addition to those who said they used internet research, financial advisers, or AI, 35% went to a parent, sibling, or relative, while 26% got information from news, media or social media. About 2 in 10 said they turned to a friend or an author, speaker, or influencer, and fewer relied on an employer or retirement plan provider, a robo-advisor or a teacher or professor. Younger generations are more likely to say they’ve used AI for financial advice, while older adults are more likely to have turned to a professional financial adviser. Affordability can often deter younger adults from hiring a financial adviser. While doing research online, asking family and friends and using AI can have minimal costs, hiring a professional can require a bigger financial commitment. About a quarter of Gen Z and millennial adults who looked for financial advice in the past year went to AI, compared to 16% of Gen Xers and just 7% of baby boomers. But while only 14% of Gen Z adults and 21% of millennials who sought guidance turned to a professional financial adviser, that rose to 34% of Gen X adults and about half, 55%, of baby boomers. Since AI interacts with specific user prompts, the advice can vary depending on how questions are asked. But asking general questions about personal finance can help people understand complex financial terms. Choukhmane also recommends asking AI to provide references to trusted sources to verify the information provided. While AI can be utilized for research, some financial experts are skeptical about the legal responsibilities of the technology. Certified financial planners have a legal responsibility to give the most fitting advice while AI tools don’t. Ultimately, the decisions a person makes based on AI advice are their responsibility. “Fiduciary responsibility is very real,” said Bobbi Rebell, certified financial planner and founder of Financial Wellness Strategies. “There’s no AI that is a fiduciary. It doesn’t really know your life; it’s not asking you all the questions.” Amelia Thomson-Deveaux, AP’s editor for polling and surveys, contributed to this report from Washington. The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism. The poll of 5,075 U.S. adults ages 21 and older was conducted March 20-April 6, 2026, using a sample drawn from Gallup’s probability-based panel, which is designed to be representative of the U.S. population. The margin of sampling error for U.S. adults overall is plus or minus 1.8 percentage points. ADRIANA MORGA Morga is a financial wellness reporter for The Associated Press based in New York. instagram mailto