There are growing concerns after new research found  that well over 2 million UK adults are using AI tools every day for financial advice on money, savings, or investments.

The study by forex broker BrokerChooser added over half (52.85%) saying they would act on advice given by generative AI.

It added this is particularly concerning as AI tools have been found to provide incorrect financial advice around half the time. Combined with the UK’s persistently low financial literacy compared to other countries, this growing reliance on AI tools is leaving consumers and investors exposed to significant risk.

To explore the extent of AI use in financial decision-making, the broker surveyed a national representative sample of 2,000 UK adults, analysing patterns of AI adoption for managing their finances.

Key findings include:

• Nearly a third (29.10%) – or around 16.1 million UK adults – have already turned to AI for money advice, with usage highest among millennials (53.98%) and Gen Z (46.70%)
• Millennials are the most confident in letting AI manage their money, with one in five of those aged 35 to 44 (21.90%) consulting AI every day for money matters.
• AI usage is creeping into high-stakes financial decisions, with a worrying one in five (21.82%) consulting AI tools for stock market forecasts.
• Over half of UK adults (52.85%) would act on AI advice, with millennials and high earners (£75,000+) the most likely to follow its guidance.
• Almost one in five Millennials (16.90%) would choose AI over a human advisor even if cost were not a factor.

The survey added of those who have used AI for financial advice, the survey reveals a notable daily reliance, with around one in six users (16.84%), equivalent to approximately 2.7 million UK adults, consulting AI tools every day for their finances.

Daily usage peaks among those aged between 35 and 44 years (21.90%) and adding in a further quarter (25.43%) of UK adults who turn to AI several times a week (four to six days), it is clear that for many, AI is now part of regular financial decisions. Overall, AI is relied upon for financial decision-making 3.1 days per week on average.

An alarming fifth of UK adults said they use AI for stock market forecasts.

Adam Nasli, head broker analyst at BrokerChooser, warned: “AI tools can be incredibly convenient for everyday financial tasks like budgeting or comparing savings accounts – but relying on them for stock picking or market forecasts, particularly in fast-moving markets like forex, carries significant risk. These algorithms provide generic guidance based on historical data and patterns, but they cannot fully account for real-time market volatility, geopolitical events or your individual financial situation, risk tolerance and long-term objectives.

“Crucially, AI tools are not regulated by the FCA, so they should never be treated as a sole source of financial advice. Use AI for initial insight if you like, but any recommendations should always be verified to apply judgement, adjust strategies, and – most importantly – take responsibility for the guidance received.

Forex markets in particular are inherently complex and highly leveraged, meaning small missteps in decision-making can quickly translate into significant losses. While AI can serve as a valuable supplement, it cannot replace the time necessary to invest into learning to trade and investment strategies. Acting solely on AI advice exposes investors to potentially significant financial losses, with no one responsible for the outcome.”

While AI is largely used for low-risk financial tasks – such as finding better savings rates (43.46%), budgeting (38%) and planning financial goals like saving for a house or holiday (33.06%) – usage is also extending into higher-risk territory.

Almost a third of Brits (29.64%) use AI to choose or compare investments, and more than one in five (21.82%) consult AI for stock market forecasts, indicating how quickly these digital tools are becoming trusted advisors for big-stakes financial decisions.

Nasli added: “AI is increasingly used for financial advice because it delivers instant, easily accessible answers to almost any question, which is particularly appealing to younger generations who often prioritise speed. For many, it also removes the anxiety of discussing personal finances, creating a space that feels judgement-free. But when real money is at stake, AI should always be used to inform rather than decide, and consumers should always rely on trusted, regulated sources for financial guidance.”

Daily usage peaks among those aged between 35 and 44 years (21.90%) and adding in a further quarter (25.43%) of UK adults who turn to AI several times a week (four to six days), it is clear that for many, AI is now part of regular financial decisions. Overall, AI is relied upon for financial decision-making 3.1 days per week on average.