AI in Personal Finance: A Double-Edged Sword

AI in Personal Finance: A Double-Edged Sword
By Richard Maize

Artificial intelligence has taken the financial world by storm — and for good reason. Tools that once felt futuristic are now baked into budgeting apps, robo-advisors, credit scoring models, and even your bank’s customer service chat.

As someone who has spent decades in finance and real estate, I’ve seen many disruptive technologies come and go. But AI is different. It’s not just a tool — it’s a paradigm shift.

For today’s investors, especially Millennials and Gen Z, AI-driven platforms offer powerful benefits:

• Automated investing with lower fees

• Real-time spending insights

• Credit optimization suggestions

• Customized financial planning

But here’s the flip side — and it’s a serious one.

Relying too heavily on AI can lead to blind spots. Algorithms don’t understand your full financial picture. They can’t account for your personal goals, your emotional relationship with money, or the market intuition you develop over years of experience. And they certainly can’t predict black swan events.

That’s why I encourage people — especially young investors I mentor — to treat AI as an assistant, not a replacement. Use it to streamline, not to surrender control.

The most successful investors I know combine data with discipline. They educate themselves, seek mentorship, and never stop asking questions. That’s the kind of financial intelligence that outlasts any algorithm.

– Richard Maize, entrepreneur, investor, and lifelong student of the markets