"I suspect that the world of chat apps will create, obviously, more options for consumers and how they're going to use it, but it is inevitable that AI is going to drive our financial lives, and whether we choose to use it a lot, or a little, or maybe not at all is a personal decision,"
"If ChatGPT could let me move my money around, if it could make investment decisions for me, if it could figure out which bank account my paycheck should go into, I would give it all the trust in the world,"
"I want my financial life to be fully automated and I never want to think about it,"
A fintech CEO envisions AI chatbots fully managing personal finances, including account transfers, investment choices, and paycheck allocation. Plaid connects bank accounts to digital finance apps, which contributes to openness to entrusting AI with sensitive financial information. Not all consumers will accept automated money management and varying comfort levels will influence adoption. Recent integrations between conversational AI and commerce apps expand chatbot capabilities and create more consumer options. Some companies are adding instant checkout and app integrations into chatbots, widening potential AI-driven financial services. The preference for automation stems from a desire to avoid routine financial decision-making and reduce cognitive burden.
Read at Business Insider
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