When managing your money, take a chatbot’s ‘confidence’ with a grain of salt

July 12, 2026 - 19:28

A new survey suggests that trusting a chatbot with your finances might be a costly mistake. According to a 2025 study of 2,000 U.S. adults conducted by the professional services platform Pearl.com, nearly one in five respondents reported losing over $100 by following financial guidance from an artificial intelligence chatbot. Specifically, 19% of those surveyed said they lost more than $100 after acting on AI-generated advice.

The findings highlight a growing concern as more people turn to tools like ChatGPT for budgeting, investing tips, or debt management. While these chatbots often sound confident and authoritative, experts caution that they lack the ability to understand a person's unique financial situation, tax implications, or long-term goals. The advice can be generic, outdated, or simply wrong.

The survey did not specify which chatbots were used or the exact nature of the bad advice. However, the results serve as a clear warning: treat AI financial suggestions with skepticism. The confidence of a chatbot's tone does not equal accuracy. For serious money decisions, consulting a human professional remains the safer bet.