Can AI replace financial advice?

It’s becoming increasingly difficult to avoid AI in our day-to-day lives. But are chatbots accurate enough to be trusted with your personal finance questions?

In this episode of Which? Money, our senior data journalist Josh Wilson shares the results of his investigations into chatbots, where he aimed to find out how good they are at answering questions about personal finance.

Josh tested five chatbots: ChatGPT, Google Gemini, Google’s AI Overviews in standard Google searches, Microsoft’s Copilot and Perplexity, by asking them 15 common personal finance questions – chosen based on search trends – which covered pensions, debt, investing, saving, insurance, equity release, tax and mortgages.

He explains how Which? money experts rated and reviewed every response, shares our advice on getting the most out of chatbots, and warns about the risks of relying on them.

Read more about our investigation, including the responses from the tech companies on our website & sign up for our free weekly Money newsletter

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