One in five Americans is making 2025 the year they save more money, and there is a growing trend of asking generative AI technology for advice on how to achieve personal finance goals. But is using ChatGPT or Gemini to improve your personal balance sheet the right move? Experts say it’s complicated.
When used as glorified search engines, large language models excel at helping you find information fast, and they can also be a good source of general advice on how to set up a budget or improve your credit score. However, getting accurate answers on specific, sensitive financial questions is where the concerns start, says Andrew Lo, director of the laboratory for financial engineering at the MIT Sloan School of Management.
