Opinion

Financial advice at your fingertips is by no means a new innovation.

Yet with the rise of artificial intelligence, getting insights about your money has been taken to new heights of potential benefit — and dangers.

“There is a lot of upside to using AI, especially for budgeting, and it’s often good as a first draft for anything you want to do,” says Monisha Sharma, Toronto-based chief revenue officer at Fig Financial, which provides consolidation, home improvement and unsecured loans.

Fig has some insight on AI’s benefits. The fintech company leverages AI technology to make loans quickly to Canadians, but its use case is contained to Fig’s own specific data to ensure a low error rate.

When generative AI tools like ChatGPT are used by consumers to search for answers to their qu

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