Singaporeans embrace AI in personal finance

A growing number of Singaporeans are adopting artificial intelligence (AI) to manage personal finances, with 81% now using tools like robo-advisors and budgeting apps, according to a recent MDRT survey. While AI use is high among Gen Z (87%) and millennials (86%), only 37% of baby boomers have embraced the technology. Most respondents support financial advisors’ use of AI, with 67% trusting those who do and 84% backing regulation of AI in financial advising. Despite optimism about AI’s ability to reduce errors and personalise advice, many Singaporeans still prioritise human expertise and demand transparency — 88% want to know when AI is used, and most prefer it for support tasks rather than core financial planning.