With all the debate surrounding artificial intelligence or AI these days, it is sometimes hard to keep up to the latest development on this front or just what it means for us as individuals.
But, it turns out, more than a few of us have harnessed it to help with our personal finances.
A report prepared by BMO Bank of Montreal says about one-third of us have harnessed AI to help manage our personal finances. That number is even higher for the youngest among us with more than half of Gen Z have adopted it to help research their finances and investments.
The most common uses are for gathering information: simply learning more about financial planning or preparing budgets but it also includes researching investment strategies.
Others rely upon it to help improve productivity, deploying it in building travel, exercise or even meal plans.
According to the bank, Canadians are finding AI useful in sorting through their complex relationship with money and finances because it is a powerful tool for improving financial literacy and for making informed financial decisions.
