A Royal Bank of Canada survey says younger Canadians are more likely to use artificial intelligence to manage their finances. A woman walks past a Royal Bank of Canada sign in the financial district in Toronto on Tuesday, Sept. 20, 2022. THE CANADIAN PRESS/Alex Lupul
TORONTO – A Royal Bank of Canada survey finds younger Canadians are more likely to use artificial intelligence to manage their finances than their older counterparts.
The poll reported 65 per cent of respondents aged 18 to 34 perceive AI positively for managing personal finances.
The survey, conducted online by Ipsos, shows Canadians are turning to AI for automated savings, budgeting, cash flow forecasting and quick financial insights.
People aged 35 and over seem more cautious when using AI for personal financial management.
About 38 per cent of those aged 35 to 44 were interested in AI for their finances while only 11 per cent of those aged 55 and over trusted AI’s capabilities.
The poll, which surveyed 1,501 Canadians between April 12-14, shows while 75 per cent of respondents were skeptical of AI, many of them may be using the technology without realizing it.
This report by The Canadian Press was first published Aug. 28, 2023
