Half of UK Adults Now Ask ChatGPT for Financial Advice
A Lloyds study of 5,000 Brits reveals over 50% have turned to generative AI for money guidance.
More than half of UK adults are ditching traditional financial advisors for chatbots. A study commissioned by Lloyds, surveying 5,000 people, found that over 50% have used generative AI platforms to get financial advice.
ChatGPT leads the pack as the most popular tool. People are using it for everything from retirement planning to everyday money decisions. Millions of Brits are already relying on AI chatbots to help map out their financial futures.
The numbers are staggering for a technology that barely existed a few years ago. The shift raises serious questions about the role of AI in personal finance — especially when these tools weren't specifically built for regulated financial guidance.
Lloyds clearly sees the trend as significant enough to commission dedicated research. The financial services industry is watching closely.