Under-45s in UK consult AI chatbots for financial advice more than human advisors
A survey of 2000 UK adults found that 11% of people under 45 use AI for financial advice while only 9% consult human advisors.
AI adoption among younger adults
The Attest report indicates that consumers are now consulting AI chatbots before seeking help from traditional financial experts. This shift represents a change in how the under-45 demographic approaches money management tasks. The data shows 11% of this group turned to LLM-backed tools for guidance.
Comparison with human advisors
Fewer than one in ten younger adults seek advice from living banking professionals compared to AI users. The research highlights a gap where the financial industry has not fully embraced these new technologies. Consumers are using search tools to find products before asking for direct advice.
Other potential uses
The study also notes that people expect to use AI to switch insurance deals or cancel subscriptions. Negotiating disputes with service providers is another area where consumers anticipate using the technology. These trends suggest a broader expectation of AI integration in daily financial life.
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