Artificial intelligence is finding its way into many aspects of our daily lives but there’s one place where it is having trouble breaking through. It turns out we still trust our parents more than AI for major financial decisions.
A survey conducted for TD Bank found that most Canadians trust AI and readily accept it for routine things like budgeting or calculating credit scores. More than half of those asked responded favorably to AI for activities such as tracking day-to-day spending, updating passwords or checking account balances.
But that number fell when it comes to what the bank calls ‘big money moments’ where Mom and Dad overtake AI in the trust department. Over 70-percent of us place more trust in human intelligence over the artificial kind while less than a third of the respondents gave AI the nod.
Here’s where the human factor becomes the preferred choice with more than half of the people surveyed: financial planning, assessing a financial product and retirement planning fearing inaccurate information, lack of privacy or accountability.
