The Artificial intelligence (AI) are computational systems that aim to simulate human intelligence to perform certain tasks and optimize them through learning, based on the large amount of data at its disposal to improve human capabilities, as defined by El Economista .
The AI finds its way into the financial sector to provide advice to generate new savings and income opportunities in personal finance management.
Finance in Ecuador
In Ecuador, it is estimated that 22% of the population consists of people born between 1981 and 1995 (millennials), while 28% of people are born between 1995 and 2010 (Generation Z), meaning that half of the total population consists of people who to these two generations, according to 2020 population projection data from the National Institute of Statistics and Censuses.
Deloitte’s 2023 Millennial and Gen Z survey in Ecuador found that 47% of millennials and 46% of Generation Z are living at the limit of their salary, which means they have to adjust their budget until they reach the next receive salary payment. ; meaning that the cost of living is what concerns you most socially.
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31% of millennials and 26% of Generation Z in Ecuador are not confident they can retire with financial comfort.
Artificial intelligence in personal finance
Considering the situation of many people who have their finances under control, the Mexican technology company Fintual focused on this industry launched the service “Ask Fintual”to provide advice on personal finance through AI to provide instant answers to questions that even experts may have about money, financial products, economics, investments and others.
This free virtual assistant is available 24/7 to answer all kinds of questions related to economics, money, funds and Funtual products, explains Neo Magazine.
The interaction takes place through a WhatsApp message, from which people can solve frequently asked questions that can help solve their financial health, including, among other things, which credit card to choose or recommendations on the best options for investing.
Mabel is a talented author and journalist with a passion for all things technology. As an experienced writer for the 247 News Agency, she has established a reputation for her in-depth reporting and expert analysis on the latest developments in the tech industry.