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AI Financial Advice Gains Popularity, Quality Depends on Prompts

4/18/2026

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Summary

Story summary

AI is increasingly used for financial advice, but quality depends on user prompts.
Andrew Lo of MIT says AI handles general financial concepts well but struggles with specific calculations, especially tax planning.
A survey finds 66% of AI users seek financial advice, and 85% act on the recommendations.
Lo adds that prompt engineering is crucial for effective personal-finance interactions.

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Story summary

AI is increasingly used for financial advice, but quality depends on user prompts.
Andrew Lo of MIT says AI handles general financial concepts well but struggles with specific calculations, especially tax planning.
A survey finds 66% of AI users seek financial advice, and 85% act on the recommendations.
Lo adds that prompt engineering is crucial for effective personal-finance interactions.