Use AI for investing at your own risk, warns watchdog Personal Finance The financial watchdog has warned Brits using AI for investment advice that they may not be protected if things go wrong as more people turn to online chatbots. Four in five inexperienced investors admitted to using AI tools for help with their investment decision, according to the latest research from the Financial Conduct Authority (FCA). [...]
Brits swindled out of thousands by unregulated online financial advice Personal Finance People have lost thousands of pounds after acting on advice from online unverified sources, despite industry figures warning that their guidance can be misleading or incorrect. Over 40 per cent of Brits admitted to taking advice from online sources, including ‘finfluencers’ and chatbots, without first verifying its legitimacy, according to the latest data from fintech [...]
Banking customers hate chatbots – and it could cost the sector £9.3 billion Opinion 75 per cent of people would rather deal with a person than a chatbot concerning their finances; one in five has shouted at their robot antagonist; and one in eight admits swearing at them. Rather than save money, Chatbots may actually be driving business away, says Chris Teasdale If you’ve interacted with customer services in [...]