A BMO survey reveals that one-third of Canadians utilize AI for financial management, with top uses being learning personal finance (45%) and updating budgets (43%). AI is garnering praise for its impersonal nature in investing. Gen Z shows the highest usage at 55%.
Despite varied adoption, over half of Canadians think AI aids in making better financial decisions. “By making it easier to help manage finances, AI is proving a powerful tool to build financial literacy and make informed financial decisions,” says Gayle Ramsay, Head of Everyday Banking Segment & Customer Growth for BMO.
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