Manjeet Rege, director of the Center for Applied Artificial Intelligence at the University of St. Thomas, spoke with WCCO about the growing use of artificial intelligence in personal finance. Rege explained that while AI can be a helpful tool for budgeting, analyzing spending patterns and running financial scenarios, it should be used cautiously and not replace human judgment, especially when it comes to privacy and long-term financial decisions.
From the story:
They are a popular way to keep track of your money, but are AI tools worth the risk?
According to TD STORIES, as of early 2026, more than 55% of Americans reported using AI to help with financial management decisions.
Dr. Manjeet Rege, an AI expert who teaches at the University of St. Thomas, said AI “could be your co-pilot but should not be your autopilot when investing your money.”
“Personal finance and investing is personal for a reason, and AI is pretty generic,” he said.
Rege said there are three reasons using robots to crunch numbers can be helpful.
“AI is excellent when it comes to making budgets, analyzing patterns and running ‘what-if’ scenarios,” he said.
It can also translate or summarize complicated information, but Rege warned that privacy of your information could be at stake.
“You certainly don’t want your financial statements uploaded to a cloud. AI has a long memory and certainly you do not want that information to be given away,” he said.
