Banks Spend $53B on AI as Only 33% of Americans Trust AI Financial Advice vs 71% for Humans
mikeflache · x · 2026-10-29
- Banks are spending $53B on AI, cutting thousands of jobs, and building AI agents to replace financial professionals—without asking clients, argues Rich Turrin.
- Gallup/Edward Jones 2026 data: only 33% of US adults (27% in Canada) trust AI chatbots for financial guidance, vs 71%/75% for human advisors. Even Gen Z trusts AI at just 33%.
- The only source AI beats is social media influencers.
- AI advisors will still grow, Turrin notes, but the industry is replacing advisors with technology clients actively distrust.
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