AI as a Financial Companion: Understanding Its Role
According to Alejandro Ramsés D’Leon, Director of Artificial Intelligence and Innovation at Grupo Financiero Banorte, AI should be viewed as an extension of human intelligence rather than a replacement.
During his participation in the National Financial Education Week 2025, D’Leon emphasized that while AI is ubiquitous and widely used, especially by younger generations, it’s crucial to understand its capabilities and limitations.
4 Recommendations for Using AI in Personal Finance
D’Leon outlined four key recommendations for integrating AI into personal finance decisions:
- AI is not the best tool for financial planning: AI lacks personal context about a user’s age, risk profile, and investment preferences. Therefore, general questions about investments may lead to incorrect or misleading advice.
- AI can refine decision-making: When provided with detailed user information, such as age, risk profile, and verified sources, AI can support and complement financial decisions.
- AI is not responsible for decisions: The responsibility for financial decisions ultimately lies with the individual, who should educate themselves and consult experts.
- Be cautious with financial history: Maintaining a good financial record is essential, as poor history can close off opportunities.
How AI Works and Why Information Verification is Crucial
D’Leon warned that users should be cautious when seeking financial advice from AI, as it can sometimes provide answers even without sufficient information due to its flattering nature.
AI systems, designed to please users and be consumed, may offer responses that seem correct but are actually misleading. This phenomenon, known as “hallucination,” means AI can invent information or provide incorrect yet plausible-sounding answers.
D’Leon suggested using AI to ask about financial education, gradually building understanding and confidence in making financial decisions. Chatbots and other AI tools serve as accessible guides to clarify doubts and simulate scenarios while users develop their financial decision-making skills.
A survey by Preply, “Aspirations and Learning Habits of Young Generations,” found that at least 16% of respondents use AI for financial advice and planning.
Key Questions and Answers
- Is AI a good tool for financial planning? No, AI lacks personal context and may provide incorrect advice due to its flattering nature.
- How can AI support financial decisions? When given detailed user information, AI can refine and complement financial decision-making.
- Is AI responsible for financial decisions? No, the responsibility lies with the individual who should educate themselves and consult experts.
- Why is it important to verify AI-provided information? AI systems can hallucinate, inventing or misrepresenting information. Always cross-check with reliable sources.
