Nearly half of global consumers now use AI for savings and investment decisions
Forty-nine percent of consumers worldwide have used artificial intelligence to inform their savings and investment choices in the past six months, according to EY's second Global AI Sentiment Survey. The poll of more than 18,000 people across 23 countries signals a shift from AI as an experimental tool to a practical fixture in how people manage money.
The survey found specific use cases beyond basic advice. Fifty percent of respondents believe AI can detect and prevent financial fraud. Twenty-one percent have used AI agents for financial product recommendations, while 18% applied the technology to budgeting and trading support.
Appetite for automated financial decisions grows
More than a third of respondents said they would find personalized financial advice based on their own data very or extremely helpful. Fourteen percent have allowed AI to select financial services providers for them. Eleven percent have deferred to AI to manage their finances with minimal or no human involvement.
Higher education correlates with comfort using AI for financial tasks. Around half of university-educated consumers rated AI as very or extremely helpful for fraud detection and financial advice, compared with roughly a quarter of those whose highest qualification was secondary school.
Generation Z leads adoption, but millennials use AI for higher-stakes decisions
Gen Z respondents, aged 14 to 29, recorded the highest overall adoption rate at 68%, followed closely by millennials at 65%. But the patterns diverge on complex tasks.
Millennials led on specific higher-stakes use cases: 43% used AI for financial advice, 41% for claims automation, and 37% for fraud detection. Gen Z recorded lower figures for the same categories, at 14%, 14%, and 12% respectively.
Gen X respondents reported 27% usage across all three categories. Baby boomers stood at 22%, 17%, and 15% respectively.
Trust will determine how far adoption spreads
Financial services firms face a window to capture market share as consumers grow more comfortable with AI for finance. But governance and accountability frameworks must keep pace with technology adoption.
EY's Global Financial Services AI Co-Leader Preetham Peddanagari said, "Consumers are becoming more comfortable using AI for financial guidance, but it is trust that will determine how far and how fast adoption grows. Financial services firms must earn that trust by putting strong guardrails around AI-driven decisions and demonstrating transparency and accountability."
Your membership also unlocks:
