AI chatbots can assist with managing money
Still, AI chatbots are finding a place in managing everyday money.
“For a lot of people, the ability to grab some basic information very quickly and easily, and kind of cut through the noise, I think, is very powerful,” Aitcheson said.
She said the technology can offer a fairly accurate breakdown of money allocation for financial goals such as saving for retirement or paying off a student loan—or at least putting a user on the right path.
Dasko said the most common prompt people can use is: “Help me create a monthly budget with (insert) income and (insert) expenses.” AI would then offer a budget style people can choose from, he said.
Then, Dasko suggested customizing the plan with prompts such as: “Where can I cut $100 to start saving more?” or “Help me save $10,000 in the next year,” and “What’s a realistic monthly plan, or weekly plan or quarterly plan?”
The cybersecurity risks of asking AI personal questions
But it’s not always safe to ask AI questions that may contain sensitive information, Check Point’s cybersecurity evangelist Jane Arnetta warned.
Canada doesn’t yet have any legislation protecting AI users, and it’s hard to know how the data is stored or used.
“Stop and think: ‘Okay, with this that I’m putting in here, what would happen if I was giving this to someone who was trying to rob me right now?” Arnett said.
