Many consumers are willing to let artificial intelligence make financial decisions on their behalf, but still want another human to verify those decisions, according to a new survey by TD Bank.
The survey found that 69% of respondents would allow a bank-provided AI assistant to complete at least one financial task on their behalf. Forty-nine percent said they used an AI assistant to make a personal financial decision or reach a decision. However, among those individuals, 83% verified the information with another source or professional.
TD Bank also found that 68% of respondents were comfortable with banks using AI to detect potential fraud and send alerts. Fifty percent expressed trust in the use of AI to help protect their money and financial information from fraud and cyber threats. Still, human oversight was the leading factor in building consumer confidence in bank use of AI, with 36% of respondents citing human review of important financial decisions as a key safeguard.
