PLEASE DO BUSINESS WITH THOSE WHO DO BUSINESS WITH US -- OUR ADVERTISERS.

THANK YOU FOR VISITING OUR WEB PORTAL. PLEASE TELL A FRIEND.

YOU can speak out and be heard by having your own "Column" - Visit the "Public Opinion" Section above.

WE ACKNOWLEDGE AND THANK ALL OUR SOURCES FOR THEIR CONTRIBUTIONS IN MAKING US AMERICA'S NUMBER ONE NEWS INFORMATION PORTAL.

ATTENTION TALK SHOW HOSTS: We are honored that many radio talk show hosts use our Web Portal for their "show prep." We would appreciate your occasional mention of our site to your audience. Thanks!

ADVERTISEMENT: If you want to advertise your business or Web Site, send us an email by clicking on "Contact" above. It could be the best business decision you make.

ABC Online Canada National Post Daily Telegraph The Observer Wired News Xinhua News

VOA VIEW -- Is the opinion of "Voice of Americans", which is a private entity not affiliated in any way with the United States government or any of its agencies. The opinions expressed here, in whatever medium or format, are not necessarily the opinions of the ownership or advertisers of this web site - 0415.

      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.  Don't count on AI financial advice.

     The research — which studied seven “widely available” generative AI platforms — 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.  Its “suboptimal” or biased outputs raise questions “about the consistency and fairness of GenAI-driven recommendations,” according to authors Swarn Chatterjee, Brenda Cude and Gianni Nicolini.

     The findings come as a large share of Americans are turning to AI to help manage their money.  Two out of three Americans — 66% — who have used GenAI said they’ve leveraged it for financial advice, according to an Intuit Credit Karma survey published in September. The share is higher for Gen Z and millennials, at 82% for each cohort.

     Experts said that AI is generally good at providing high-level overviews of financial topics: For example, why it’s important to diversify investments, or why exchange-traded funds may be better than mutual funds in some cases but not others.  However, it has limitations that mean users shouldn’t trust its output blindly, they said.