Perth, Aug 7: More than one in five Australians are now using AI tools to help make financial decisions, according to new research from AustralianSuper, with the trend most pronounced among younger generations with more than one in four of those aged 18 to 29 use AI for financial guidance, compared with just a small fraction of those aged 60 and over.
The research also found that more than one in three Australians don’t trust AI for financial information, with the majority of that group citing concerns over where the information comes from, while one in four AI users admitted to acting on AI-generated financial information without checking other sources.
“AI is playing a growing role in retirement planning, with Australians looking to better understand their finances. We’re seeing this particularly younger people who are using AI to explore options and make sense of complex topics. But our research shows people still recognise the importance of verifying information before making significant financial decisions. More than half of AI users cross-check what they’re told, while around one in three also seek advice from a financial professional,” said Ross Ackland, AustralianSuper’s Head of Guidance and Advice.
“That’s a positive sign. We don’t see AI replacing personalised financial guidance. Rather, it has the potential to complement it by helping people become more informed and engaged before speaking with an adviser. As AI continues to evolve, trust and transparency will remain critical. Australians should understand AI’s limitations and seek professional advice that’s tailored to their individual circumstances before making important financial decisions.”
The findings show AI is most often used as a research starting point rather than a decision-making tool outright half of users turn to it to explore investment options, while a substantial share use it to compare financial products, better understand their super and retirement finances, and estimate their retirement needs. Encouragingly, most users are taking steps to verify what they’re told, with more than half cross-checking AI-generated information against other sources and around a third consulting a financial professional, with younger users, despite being the heaviest adopters, also among the most likely to verify before acting.
The research also points to appetite for AI to play a bigger role if trust concerns are addressed as more than half of 18-to-29-year-olds said they’d find AI-powered financial guidance appealing if it were securely personalised to their circumstances, a view shared by roughly one in three Australians across all age groups.
Jas Khurana, 25, research consultant and AI user has recounted his own experience using AI for financial research.
“One thing I’ve noticed is that AI can struggle with live financial data and exact figures, often giving different ranges depending on the platform. It’s useful for understanding concepts or narrowing down what to look into, but when it comes to actual numbers or making decisions, I always verify the information myself,” said Khurana, when asked whether AI had ever flagged something, a fee, risk or inconsistence that prompted him to double-check with a professional.
Asked whether he would trust AI to verify an adviser’s credentials or track record, given cases like that of convicted fraudster Melissa Caddick, Khurana said: “I’d use AI as a starting point, but I wouldn’t rely on it alone. If I was checking someone’s credentials or legitimacy, I’d ask AI to point me towards the relevant sources, then I’d go back to the original documents or official registers to verify the information myself.”
On what “securely personalised” AI guidance would actually need to look like before he’d trust it with a real financial decision, Khurana said: “For me, it comes down to consistency and accuracy over time. Even using AI in projects I’m working on, I’ve seen it confidently present information that’s incorrect. I’d only trust AI with a real financial decision if it consistently produced accurate, transparent results and clearly showed where its information was coming from.”
The research was commissioned by AustralianSuper and conducted by Quantum Market Research among 1,009 Australians via an online survey in April and May 2026. Data was weighted to be nationally representative by age, gender, and location. Results are subject to a maximum margin of error of ±3.1% at the 95% confidence level.
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