We asked ChatGPT, Claude and Perplexity for financial advice: what we got was practical, but with big blind spots

By Bomikazi Zeka, Associate Professor in Finance, University of Canberra
Raechel Johns, Professor of Marketing; Co-Director, Centre for Intergenerational Digital and Financial Wellbeing (CIDFW); Canberra Business School, University of Canberra

Ever used or thought of using artificial intelligence (AI) for financial advice? Is it a good idea?

Anyone with the internet, even on their phone, can access AI. Tools like ChatGPT, Claude and Perplexity are free, instant, and easy to use. They can break down complex financial concepts and provide financial solutions in seconds. But can they safely guide a user through a nuanced, high-stakes financial crisis?

Our recent research explored this question, drawing on our

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