HOME RATES ABOUT SERVICES VIDEO BLOG CONTACT ME TEAM
AGENT LICENSE ID
M19000245
BROKERAGE LICENSE ID
13043
Karen  Baker  Mortgage Agent

Karen Baker

Mortgage Agent


Phone:
Address:
108-50 Richmond St. E., Oshawa, Ontario

BROWSE

PARTNERS

BROWSE

PARTNERS

COMPLETE

THE SURVEY

REFER

A FRIEND

Artificial Intelligence has taken the world by storm. Here’s how Canadians are using it to help with their finances

7/31/2024

Artificial Intelligence (AI) has had many breakthroughs in the past few years, and more and more households are beginning to incorporate it in their daily routines. The BMO Real Financial Progress Index reveals a growing number of Canadians, notably Gen Z, are using artificial intelligence (AI) to help manage their finances and investments.

Among the 33% of Canadians using AI to help manage their finances, the most common uses include:

  • Learning more about personal finance topics (45%),
  • Creating and/or updating household budgets (43%),
  • Identifying new investment strategies (42%),
  • Building savings (40%), and
  • Creating and/or updating their financial plans (40%).

While AI is helping Canadians manage some aspects of finances, over two thirds (68%) say AI cannot understand how emotions influence financial planning.

“AI is a transformative technology that can instantly analyze information and generate ideas, but people’s relationship with money is complex, personal and emotional. By making it easier to help manage finances, AI is proving a powerful tool to build financial literacy and make informed financial decisions, and together with guidance from a professional advisor, more Canadians can be empowered to conveniently manage their money, achieve their goals and make real financial progress.”

https://about.bmo.com/artificial-intelligence-has-taken-the-world-by-storm-heres-how-canadians-are-using-it-to-help-with-their-finances/

MY LENDERS

Scotia Bank TD Bank First National EQ Bank MCAP Merix
Home Trust CMLS Manulife RFA B2B Bank Community Trust
Lifecycle Mortgage ICICI Bank Radius Financial HomeEquity Bank CMI Bridgewater
Sequence Capital Wealth One Fisgard Capital Bloom Financial NationalBank