BACK

Six_Characters / E+ / Getty Images

Research and Statistics

In robots we trust: Study shows most people want AI handling their money

A new Oracle survey shows 53% of adults trust artificial intelligence more than themselves to manage their finances

Summary

According to new research findings, consumers across the globe are not only comfortable with a robot managing their finances – many think the robots would do a better job than they’d manage to do themselves.

The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.

According to new research findings, consumers across the globe are not only comfortable with a robot managing their finances – many think the robots would do a better job than they’d manage to do themselves.

Consumers happy to pass the buck to financial robots

Computer technology firm Oracle surveyed more than 9,000 adults in 14 countries to gauge their interest in artificial intelligence (AI) taking a role in managing their financial affairs.

About three-quarters (76%) indicated they would welcome help from financial robots. In addition, more than half (53%) said they would trust a robot more than themselves to manage their finances.

When asked how they envision financial AI being most helpful, the top responses were freeing up time (33%), reducing unnecessary spending (31%) and making on-time payments (25%).

See related: What happens when you miss a credit card payment?

The study also found that the affinity for robots handling financial matters extended beyond consumers and into the corporate world as well. Almost three in four business leaders (73%) indicated they would trust financial robots more than themselves, and 77% said they would trust the robots more than their own finance teams.

About a third of business leaders (34%) and consumers (33%) also indicated that they believe financial robots can help them detect fraud.

Oracle’s survey was conducted between Nov. 10 and Dec. 8, 2020, among 9,001 respondents in 14 countries (U.S., United Kingdom, Germany, Netherlands, France, China, India, Australia, Brazil, Japan, United Arab Emirates, Singapore, Mexico and Saudi Arabia). Its findings were released Feb. 10.

Editorial Disclaimer

The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.

What’s up next?

In Research and Statistics

Poll: 73% expecting tax refunds say it’s important for their finances

A number of people are counting on their tax refunds to boost their overall financial health. Find out now what people said they were going to do with their refunds in the latest CreditCards.com poll.

See more stories
Credit Card Rate Report
Business
14.22%
Airline
15.53%
Cash Back
16.03%
Reward
15.84%
Student
15.98%

Questions or comments?

Contact us

Editorial corrections policies

Learn more