Experts warn against sharing financial documents with AI tools without precautions
Financial professionals should take specific steps before using AI for financial guidance, experts say. Bank statements, tax returns, and other sensitive documents risk exposure if a data breach occurs.
The concern centers on what happens to information once it enters an AI system. Many tools retain data for training purposes, creating a window of vulnerability between upload and deletion.
Three steps to reduce risk
- Check the tool's privacy policy and data retention terms before use
- Opt out of AI training if the option exists
- Redact account numbers, Social Security numbers, and other identifying details before sharing documents
These precautions don't eliminate risk entirely. They reduce the window of exposure and limit what data remains accessible if a breach occurs.
For finance professionals evaluating AI tools for departmental use, understanding these vulnerabilities is essential. Learn more about AI for Finance and the security considerations that come with implementation. Those in leadership roles may also benefit from the AI Learning Path for CFOs, which covers data protection and proper AI deployment in financial decision-making.
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