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Its research of 2,000 UK adults found 61 % of those aged 18 – 34-year-olds are comfortable with AI making financial predictions for them . Young people are also the most confident in using data to save money , with 45 % happy to share their data for this purpose compared to just 15 % of those aged 55 plus .

Meanwhile , half ( 50 %) of 18 – 34-yearolds said they felt comfortable trusting AI to make decisions on savings and investments for them . This could indicate that this generation may make the boldest move yet away from traditional financial advice and towards AI , such as robot advisers or money management apps .

The research also explored young people ’ s opinions about other forms of AI , finding that :

• 60 % of 18 – 34-year-olds felt happy with AI predicting what they should read or listen to , vs 43 % of all ages ;

• 58 % felt comfortable with AI being used to prevent fraud or for facial recognition , vs 52 % of all ages ;

• 56 % would use AI for personalised shopping , vs 40 % of all ages .

These results show that young people see many uses for AI beyond financial services and are substantially more open-minded to novel uses than respondents from older age groups .

However , scepticism about the benefits of AI still remains across age groups . Only one in five ( 18 %) felt that they could benefit from financial apps that use AI , although for young people , this rises to one in four ( 24 %).

Furthermore , nearly half ( 46 %) across all age groups felt that they didn ’ t understand how AI could impact their life for the better . This indicates that while people recognise the benefits of AI within specific contexts , they do not necessarily see it as a benefit more generally . “ Your first thought when you hear the words ‘ Artificial Intelligence ’ might be the Hollywood-inspired futuristic robot that can think like a human and take over the world . But what we ’ re actually starting to see are real-world , useful applications of AI that benefit your everyday life ,” said Victor Trokoudes , CEO and Co-founder , Plum . “ They might not be taking over the world , but this type of AI is having a democratising effect on financial services , which is really exciting . Smart technology means everyone can cheaply access services that previously would have been gate-kept by those with enough money to afford expensive services or advisers .” �

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