Experts caution against relying solely on AI for financial advice due to risks of inaccuracy, bias, and privacy concerns. While AI can be a learning tool, cross-checking information and using regulated sources are crucial.
‘Targeted support’ means certain banks and financial institutions can offer free extra help with investments and pensionsMany Britons are daunted by the world of investing, but new City rules mean certain banks and financial institutions can offer free extra help with investments and pensions.Last month marked the launch of “targeted support”, a new regulated service that permits companies to suggest investments and pension products to customers that might provide a better return. Continue reading...
The warning notice to the so-called "finfluencers" relates to suspected provision of unlicensed financial advice, including promoting claims of guaranteed returns.
Many Americans are using AI for financial advice, but the quality of guidance depends heavily on user-written prompts. Experts warn of AI limitations, including 'hallucinations' and a struggle with precise calculations, stressing the need for careful prompting and verification.
