Business
TD Bank Survey Finds Americans are Ready to Embrace AI, but Have Yet to Unlock Its Full Potential
Inaugural 2025 TD AI Insights Report reveals 61% of millennial respondents are already using AI t...
About this update from Toronto-dominion Bank
[{"type":"text","content":"TD Bank Survey Finds Americans are Ready to Embrace AI, but Have Yet to Unlock Its Full Potential\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n \n\n\n\n\n Inaugural 2025 TD AI Insights Report reveals 61% of millennial respondents are already using AI to manage their finances\n \n\n\n\n\n According to a new TD Bank survey, which polled 2,500 Americans, 89% of respondents say they are comfortable using and adapting to new technology in their daily life, while about seven in ten (68%) say they are at least somewhat familiar with artificial intelligence (AI), its uses and applications in their day-to-day lives. Half (50%) of respondents trust AI to provide reliable, competent information, and 65% see its potential to expand access to financial tools, a sign that perceptions are shifting as AI tools become more familiar and visible in everyday life.\n \n\n The survey revealed that Americans trust AI just as much as news stations (50%) and twice as much as social media influencers (25%) to provide information that is honest, reliable and competent. However, consumers still place greater trust in friends and family (90%) and banks (83%) for accurate information.\n \n\n “We are seeing increased optimism and curiosity around AI to help make smarter, more informed decisions, with more than half of Americans believing that AI can offer financial advice that is tailored to their situation,” said Ted Paris, EVP, TD Bank AMCB, Head of Analytics, Intelligence & AI. “For financial institutions, this signals a call to action to build understanding, increase awareness and demonstrate how AI can enhance everyday financial decisions. Trust is what matters most.”\n \n\n\n With Trust on the Rise, Consumers Are Poised to Embrace AI in Finance\n \n\n\n Trust in AI is particularly strong when it comes to supporting behind-the-scenes banking tasks. A majority of Americans are comfortable with AI being used for fraud detection (70%) and credit score calculations (64%). While fewer are ready to hand over major decisions, 44% say they are comfortable using self-serve AI enabled tools to manage investments, and 43% would use AI in combination with a human advisor for financial planning, showing significant interest in hybrid solutions.\n \n\n As for personal finance choices, respondents were most comfor...