Navigating the AI-driven transformation of personal finance: opportunities, challenges, and ethical imperatives

What is it about?

AI is transforming personal finance by making budgeting, investments, and financial planning more accessible. Robo-advisors and predictive tools help individuals manage money efficiently, offering personalised insights without requiring expert knowledge. However, AI raises ethical concerns, including data privacy, bias, and over-reliance on automation. While it can improve financial inclusion, biased algorithms may reinforce inequalities. To maximise AI’s benefits, financial institutions and policymakers must ensure its responsible use, prioritising transparency, fairness, and user trust.

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