Banks are warning that consumers linking AI chatbots and autonomous agents to their financial accounts could invite errors and even unauthorized actions, according to recent reports. While AI tools can streamline research on budgeting and investing, they carry no fiduciary duty or liability, said WealthMore founder Mical Jeanlys-White in a CBS Philadelphia interview, urging users to treat outputs as education rather than definitive advice. Experts recommend avoiding the sharing of sensitive data and validating recommendations with licensed professionals. The concerns come as regulators and financial institutions weigh how to balance innovation with consumer protection in an increasingly AI-enabled marketplace.
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