Trends Report

US Consumer Trust In Algorithms Is Extending Into Personal Finance

September 16th, 2019

Summary

US online adults are starting to trust algorithms for certain tasks, with nearly three in 10 saying they trust smart tools like algorithms more than other people for one or more financial activities. 37% of Younger Millennials and 32% of Older Millennials say they trust an algorithm more than other people for at least one type of financial activity. More than one in five Millennials agree that automated investment managers are as good as human financial advisors – in sharp contrast to less than one in 10 Baby Boomers and members of the Golden Generation.

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