TLDR: A recent Intuit Credit Karma survey reveals that a significant majority (82%) of Gen Z and millennials are turning to generative AI for financial guidance, making finance the second most common use case for AI. While 80% reported improved financial situations, over half (52%) also admitted to making poor decisions or mistakes as a result of following AI-generated advice, highlighting both the promise and pitfalls of this emerging trend.
A new survey by Intuit Credit Karma highlights a growing reliance on artificial intelligence for financial advice, particularly among younger generations. The survey, conducted online between August 7 and August 14, 2025, among 1,019 U.S. adults, found that 66% of all Americans who have used generative AI (GenAI) have sought financial guidance from these tools. This figure surges to 82% for both Gen Z and millennials, underscoring a generational shift in how individuals approach personal finance.
Finance now ranks as the second most common application for GenAI, accounting for 41% of use cases, just behind health and wellness at 44%. The appeal of AI for financial matters is multifaceted: nearly two-thirds (65%) of GenAI users frequently seek financial guidance, and a substantial 75% feel these tools enable them to ask sensitive financial questions they might be too embarrassed to pose to a human advisor. Other advantages cited include speed and directness (48% prefer it over social media), clearer explanations of financial concepts (45%), and more personalized advice (44%).
For many, AI has delivered tangible benefits. The survey indicates that 80% of respondents who acted on AI-generated financial advice reported an improvement in their financial situation, and 81% expressed increased confidence in managing their money. Furthermore, 79% of users perceive the information provided by GenAI as accurate, and 71% find it helpful.
However, this burgeoning trust in AI is not without its risks. A critical finding from the survey reveals that 52% of individuals who followed GenAI’s financial recommendations admitted to making a poor financial decision or mistake. This highlights the inherent challenges and potential inaccuracies associated with relying solely on automated advice. Despite these pitfalls, a majority (80%) of users who act on AI advice still take the crucial step of researching and validating the information before implementing it.
Concerns about security and privacy remain prominent, with 51% of users identifying these as their top worries when using GenAI for financial information. Interestingly, while GenAI is gaining traction, traditional online sources like social media (27%) and Google or other search engines (20%) are still considered more useful for financial advice by a larger percentage of online information seekers, compared to GenAI tools like ChatGPT or Gemini (18%).
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Courtney Alev, a consumer financial advocate at Intuit Credit Karma, emphasized the dual nature of these tools. “GenAI is a powerful tool for learning, planning, and managing your money in more personalized ways,” Alev stated. “It can do more than just explain concepts, it can help consumers take action based on their unique financial goals and current situation. While these tools put smart insights at your fingertips, it’s also important to understand your options and how they fit into your bigger financial picture. Finances are nuanced and deeply personal, so if you’re ever unsure, it never hurts to get a second opinion.” This expert advice underscores the need for caution and human oversight even as AI becomes an increasingly integral part of personal finance management.
