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AI Financial Advisers Target Young People Living Paycheck to Paycheck
AI finance apps are reaching Gen Z and millennial users with personalized chatbots that offer money advice—and upsell them big time.
From Apple’s top charts of free finance apps, I decided to try two well-reviewed options offering up chatbots intended to fix money woes: Cleo AI and Bright. While it had engaging moments, like an amicable roast highlighting where I overspent in unnecessary ways, the generative AI tool seemed mainly preoccupied with using my personal data for upselling opportunities. Compared to the other AI finance chatbot I tested, Bright’s outputs included more confusing errors, like claiming that I lost over $7,000 in insufficient funds fees over the past month, an absurdly wrong amount.
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