MIT researchers find AI chatbots give women more conservative financial advice, costing them $60,000 by age 60 Rebecca Payne Fri, August 14, 2026 at 9:30 AM PDT 4 min read shutterstock.com / PeopleImages As Americans turn to chatbots for answers on everything from grammar questions and popular baby names to how to store berries so they last longer, it's no surprise that some are also seeking financial advice from AI. However, the stakes are markedly higher when it comes to financial decisions you could potentially lose a lot more than a pint of blueberries. Must Read Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 6 ways to build wealth like a landlord without actually being one Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake. Here's what it is and 3 simple steps to fix it ASAP Millionaires under 43 hold only 25% of their wealth in stocks. Here's where their money is actually going Researchers have turned an eye to how large-language model (LLM) AI chatbots, such as ChatGPT and Claude, give financial advice and their findings might surprise you. One study found that the advice that an LLM gave to men differed from that which it gave to women, with long-term results that could mean a woman would end up with tens of thousands of dollars less. Americans turning to AI for answers When it comes to using AI to manage their finances, Americans aren't shy. Market research company JD Power found that 40% of consumers said they have used AI for help with personal finances, and 27% said it was somewhat or significantly helpful. The rates of those who said it was helpful were highest among people who are under age 40 (40%), and those who are "overextended" (a metric JD Power assigns based on factors such as spending/savings ratio and creditworthiness). Of those consumers considered overextended, 48% said AI significantly or somewhat helped, compared to 29% ranked as "healthy" finance-wise, 21% of those who are "vulnerable" and 15% of those considered "stressed." Of those consumers who said they use AI tools (including those who said they use AI, but not for personal finances), 24% said they used it to compare prices before buying things, 22% used AI to search out coupons, deals or discounts, and 21% said they used it to find ways they could increase their income or save money. When asked whether AI helped them "make smarter financial decisions during times when affordability is a concern," 34% of consumers who use AI tools agreed. When asked the same question about their bank, 35% of consumers who have a bank account agreed. Read More: Vanguard reveals what's coming for U.S. stocks and it could be bad news for this group of investors Story Continues What does the chatbot say? Researchers at the MIT Sloan School of Management looked at the advice an LLM gave to study participants, and then extrapolated what...
🔥 EXCLUSIVE PARTNER OFFER
Blackview WAVE 10, 8 Go + 128 Go, écran 6,88 pouces, Android 16, processeur octocœur Unisoc UMS9230E, réseau : 4G, OTG (bleu iris)
91.7
🌟 Hot deal! This trending product is flying off the shelves. Get yours before it's too late!
Affiliate link — Commission earned at no extra cost to you
© EcoNews DZ — Global Economic & Financial News
Comments
Post a Comment