AI money tips are practical but miss vulnerable users, study finds

A study tested OpenAI’s ChatGPT, Anthropic’s Claude, and Perplexity on five hypothetical financial scenarios to evaluate AI guidance. The models offered structured, practical advice but failed to recognize user vulnerability, occasionally suggesting risky or unsuitable actions (e.g., crypto for a low‑income single parent) or assuming partner support. The researchers conclude AI is useful for fact‑finding but cannot replace human financial advice, and call for safeguards, transparency in data handling, and regulatory oversight to protect consumers.