26% of Americans Ask AI Chatbots About Debt as Referrals Jump 470%
Updated
Updated · WCPO 9 Cincinnati · Aug 5
26% of Americans Ask AI Chatbots About Debt as Referrals Jump 470%
1 articles · Updated · WCPO 9 Cincinnati · Aug 5
Summary
A 470% May jump in people reaching Money Management International through ChatGPT signals a sharp rise in Americans using AI as a first stop for debt help.
OpenAI's personal finance rollout and the privacy of asking a chatbot appear to be driving that shift, with 26% of Americans now using AI for personal finance questions.
Money Management International says AI can help users compare options and find counseling services, as it did for one borrower carrying about $22,000 in debt after a divorce.
About 1 in 10 Americans who asked AI finance questions reported inaccurate answers, prompting warnings to verify advice, avoid sharing sensitive data and watch for sponsored results.
Counselors say chatbots can be a useful starting point, but borrowers should confirm recommendations with trusted human advisers such as nonprofit counselors or personal bankers.