People now as likely to ask an AI tool for help with their personal finances as they are their own parents
8 min read
People are now just as likely to turn to an AI tool for personal finance help as they are their own parents, according to new research from Capital One UK (opens in a new tab).
In a survey of 2,000 UK adults, one in eight people (13%) said they had asked an AI tool for personal finance information or advice in the last year - the exact same proportion as those who consulted their parents (13%).
People were also more likely to use an AI tool than turn to friends (12%), social media (9%), newspapers or magazines (9%), or wider family members (7%).
With the same survey revealing that parents teach us the most about personal finance over our lifetimes, the fact that AI tools were as popular a source as parents over the last year shows just how influential this technology has become in recent months.
The trend is being driven mainly by Millennials, with one in five (22%) asking an AI tool to help with their finances in the past year, ahead of Gen Z (15%), Gen X (11%) and Baby Boomers (4%). For Millennials, AI has even overtaken parental advice, with only 20% consulting their parents over the same period.
AI seen as a versatile tool for financial learning - but users are split on its accuracy
Those using AI for help with their finances use it for a range of different tasks, most commonly general advice (50%), comparing or researching financial products (43%), explaining financial topics or terms (43%), getting information about financial products (37%), and asking questions about their current financial situation (33%).
The technology is quickly embedding itself into their daily routines, with over a quarter (26%) using it at least once a day.
However, users are split on its accuracy, with roughly half (51%) saying they haven’t received incorrect financial information or advice from an AI tool, while the other half (49%) said they either have (28%) or can’t be sure (21%).
This echoes research commissioned for the FCA’s Mills Review that found that only around 28% of AI users strongly trust AI tools to provide accurate information and only 21% of AI users trust these tools to handle personal information responsibly1.
Ben Woodward, AI Strategy Lead at Capital One UK, said:
“Our findings show that, in a relatively short period of time, AI tools have become a go-to source of financial information for many people. It’s interesting to see Millennials in particular leading the charge, perhaps because of the complex financial questions they’re navigating at this stage in their lives - whether that’s taking out a mortgage for the first time, juggling the financial demands of a family, or planning for their retirement.
“Much like a search engine, the quality of what you get back depends on how you ask. Asking a vague question like ‘how should I manage my money?’ will produce a generic answer. Instead, asking something specific like ‘what’s the best way to build my credit score with a credit card?’ is more likely to give you something useful.
“However, it's important to remember that AI can produce responses that sound authoritative but aren't completely accurate - sometimes called 'hallucinations'. So, whatever you ask, always verify the AI response with a trusted source, like your bank or credit card provider.”
As part of its ambition to be a force for good in lending, Capital One UK has shared two top tips for using AI:
Fact-check AI responses with trusted sources - If you are using AI to help with your finances, make sure to fact-check any information shared with official sites and sources. For example, if you’re asking AI for information about your Capital One UK credit card, always head to our website, app or contact us directly to verify the information you’ve received is accurate.
Be mindful of what you share with AI tools - You should always review the privacy policy of any AI platform before inputting any personal or sensitive information. If you’re using a free version of AI tools, you should be aware that your data may be used for training purposes.
Find the full findings and report here (opens in a new tab). Further guidance on using AI for financial information can be found on Capital One UK’s Credit Blog (opens in a new tab).
Methodology
Capital One UK commissioned OnePoll to survey 2,000 UK adults (18+) in March 2026 to understand how they learn about personal finance and use AI tools. The survey looked at lifelong learning and recent habits, including where people go for advice or information about personal finance, what questions they ask AI, and what personal information they’d share.