Young men are trusting AI for financial advice over traditional offers

Young men are more likely to use AI to guide their financial decisions compared to older generations and women.

Men aged 18-34 are also increasingly likely to turn to AI for financial advice, than older generations, according to wealth management company Handelsbanken .

Around a quarter of respondents who used AI admitted it was an alternative to professional financial advice, calling the typical advice on offer inaccessible due to costs and complexity.

Nearly 50 per cent felt comfortable using AI tools , such as ChatGPT, to manage their investments, compared to 12 per cent of older men.

Less than one in five women felt comfortable trusting AI.

Stephen Cowling,acting head of wealth at Handelsbanken, said, “Whi

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