New York Life and FINRA Share Findings on AI's Role in Financial Guidance
What happened
New York Life Insurance Company released findings from a survey of 2,278 adults conducted between July 21 and July 23, 2026. The research found that while 82% of those who sought AI-generated financial guidance rated the quality as at least "good," only 23% acted on the advice without seeking additional validation. The company noted that 62% of adults believe AI tools do not understand their personal financial situation very well.
From investmentnews.com
Why it matters
The findings add nuance to the ongoing discussion about whether AI tools are a complement or a replacement for professional financial advice. When users did not act on AI guidance immediately, follow-up behaviors included running independent internet searches (54%), consulting friends or family (31%), or seeking a financial professional (a similar share).
From investmentnews.com
Who's involved
- New York Life Insurance CompanyConducted the survey and published findings on AI usage in financial guidance.
- FINRA Investor Education FoundationPartnered with New York Life in sharing findings regarding AI application in financial guidance.
Keep exploring
The entities involved
-
New York Life Insurance Company
company
Nothing else this week.
-
FINRA Investor Education Foundation
nonprofit organization in Washington D.C., United States
Nothing else this week.