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"Hiring a human money manager can easily cost a few thousand dollars, so more people, especially younger users, are turning to AI tools for advice. From Apple’s top charts of free finance apps, I decided to try two well-reviewed options offering up chatbots intended to fix money woes: Cleo AI and Bright.

Both Cleo AI and Bright encourage users to connect their bank account to the app through a third-party service called Plaid. This allows the chatbots to break down spending habits, help users pay off debt, and build credit. “Using the bank data and what you've said to us, Cleo will be your kind of confidant or coach,” says Barney Hussey-Yeo, the company’s CEO and founder. “She'll provide the right advice and the right products to help you make better financial decisions.”

Fair enough, but some of the guidance Cleo gave me veered from that path. While it had engaging moments, like an amicable roast highlighting where I overspent in unnecessary ways, the generative AI tool seemed mainly preoccupied with using my personal data for upselling opportunities. Bright was the same."

https://www.wired.com/story/ai-financial-advisers-apps-chatbots/

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