AI for Personal Finance: Assistant or Advisor? Experts Weigh In

• AI chatbots like Gemini, ChatGPT, and Grok offer general financial guidance but cannot 'solve' personal finances.
• Personal finance requires careful product selection, investment horizon, risk profile, asset allocation, and tax considerations, which AI cannot fully manage.
• Experts suggest AI can be a good starting point for understanding basic concepts like SIP returns or tax brackets, especially given low financial literacy.
• However, personal finance decisions are highly contextual, depending on income, family obligations, risk tolerance, and life goals.
• AI struggles with behavioral biases and keeping up with evolving tax rules and product structures; human advice remains crucial for complex decisions.