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Don't rely on AI for personal finance advice, study finds
When it comes to personal finance, artificial intelligence gives advice that can be inaccurate or demographically biased, and can range widely depending on the particular program that consumers use, according to a new academic research study.
The research â which studied seven "widely available" generative AI platforms â found "significant variation" in how GenAI answered prompts about emergency savings, asset allocation and withdrawals from a retirement portfolio.
Researchers examined free-access versions of ChatGPT, Claude, Copilot, DeepSeek, Gemini, Meta AI and Perplexity.
"GenAI-driven responses may sound confident but can still be incomplete, misleading, or incorrect," according to the paper, published last month in the Journal of Financial Planning and authored by finance professors at the University of Georgia and University of Rome Tor Vergata in Italy.
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