Loan provider Advance America released the results of a new national survey that asked over 3,000 U.S. adults what the maximum amount of money is that they would feel comfortable letting artificial intelligence (AI) manage for them.
The average Wisconsinite responded that they would be willing to entrust $20,312 to AI when it comes to investing, signaling a level of openness toward algorithm-driven financial tools. This compares to a national average of $20,441.
When asked about the types of financial decisions they’d be willing to hand over to AI, nationwide responses varied widely depending on the level of risk. Thirty-one percent said they’d trust AI to choose stocks, while 22% were comfortable letting it buy cryptocurrency. A slightly more conservative 15% were okay with AI rebalancing their 401(k). Another 31% said they’d trust AI to file their taxes, a task traditionally handled by certified professionals or clunky online forms.
One in four people said they’d trust AI more than their current financial advisor, and 27% said they’d prefer an AI over their own partner when it comes to managing joint finances.
Still, the appetite for full autonomy is limited. Only 17% of respondents said they’d let AI make a large financial decision, like a major investment, without telling them first.
When it comes to long-term planning, opinions remain split. Just over a quarter (28%) said they’d be willing to let AI plan their retirement, while 26% said they’d feel comfortable taking out a loan or mortgage based solely on AI’s recommendation.
