AI and your money: Who do you trust?

Nine in 10 Australians want people making or overseeing investment decisions about their money according to new research on the relationship between AI and investing¹, commissioned by CFS. 

Most Australians have heard about AI – but despite its ability to process large amounts of data in seconds, not many trust it enough to let it take charge of their money, the study shows.

While 28% of people use AI every day, just 9% of Australians would be comfortable with AI determining their investment outcomes. 

And only one in three (33%) trust the use of AI in the financial services industry, with many citing concerns around a lack of human oversight, transparency and accuracy as well as data security.

Source: CFS research on AI and investments, conducted with more than 2000 Australians between July and September 2025. 

Australians believe time-savings and efficiencies are the top benefits AI offers when it comes to investing their money, nominated by 57% of respondents to our study.

That was followed by improving access to information and simplifying financial concepts. 

Only one in four people (25%) expect it to improve decision-making, while 4% see no benefits at all – and this number increases to 10% among those aged over 60.

A significant minority believe AI can help reduce the risk of human error (41%) as well as automate routine tasks and better track market opportunities.

Source: CFS research on AI and investments, conducted with more than 2000 Australians between July and September 2025. Chart shows % of respondents to rank the benefit in their top three. 

When it comes to their own relationship with their money, a significant minority of Australians – around four in ten – believe AI can empower advisers and investment professionals to offer better advice.

In their own lives, people are most comfortable using AI in practical tools and everyday, low‑risk tasks that simplify money management, save time and improve outcomes.

These include:

• budgeting and personal financial management, such as categorising spend and spotting bill increases, nominated by 42% of respondents
• product comparisons and insurance recommendations, including translating complex language into plain English (41%).
• banking alerts, such as flagging potentially fraudulent activity (38%).
• super management nudges, like contribution reminders, and fee or tax‑optimisation checks (33%).
• investment administration, including consolidating portfolio data, providing performance updates or market alerts, and suggesting tax or fee minimisation strategies (29%).

In practice, most people still prefer human decision‑making or a human‑plus‑AI model when it comes to managing their money.

That said, our research shows Australians under 50, men and those who use it frequently already are more open to automated help with money decisions. 

People who already have a financial adviser also use AI more often and are more comfortable with it. 

But while two-thirds (64%) of Australians believe AI will be accepted in financial services within the next five years, at the same time, 23% believe it is a cause for concern. 

In short, Australians are looking for practical tools to help them manage their money better, with AI assisting behind the scenes, humans in charge, and outcomes they can see in their super and investment statements.