AI Becomes UK’s Top Financial Tool as 28 Million Adults Use Tech to Manage Money

More than 28 million UK adults are now turning to Artificial Intelligence (AI) tools to help manage their money, making personal finance the nation’s number one use of AI. The finding comes from the 2025 Lloyds Banking Group Consumer Digital Index, the UK’s largest study of digital and financial capability, which highlights AI’s rapid integration into budgeting, savings planning, and financial education.

The research reveals that 56% of adults reported using AI in the past 12 months for financial assistance. Among these users, ChatGPT is referenced as the most popular platform, used by six in 10. The shift signals that AI has moved from a niche concept to an essential resource, surpassing its use for health advice, shopping recommendations, and travel planning.

Driving savings and financial empowerment

AI-generated insights are already delivering tangible benefits to consumers. Users estimate they have saved an average of £399 per year thanks to AI, primarily through tasks like budgeting, planning savings goals (53% of users), and general financial education (51%).

Beyond immediate savings, the technology is also being used for long-term financial planning:

• 39% have turned to AI for information on future planning, such such as pensions.
• 37% engage with AI for investment research and recommendations.
• 26% use the tools for debt management strategies.

The Index, which is in its 10th year, reinforces the link between digital confidence and financial wellbeing. The study found that individuals who are confident in using digital tools are significantly more likely to feel engaged and confident in managing their finances overall. Those with high digital capability are nearly two times less likely to lose sleep over money worries compared to those with lower capability.

Trust remains the next frontier

Despite the rapid adoption, trust in AI still lags behind usage, highlighting a critical challenge for the sector. The survey identified major concerns among users:

• 83% worry about data privacy and security.
• 80% are concerned about receiving inaccurate or outdated information.
• 69% are worried about a lack of personalisation based on their specific circumstances.

This trust gap suggests that while millions are willing to experiment with AI-driven tools, most remain reluctant to fully rely on them without validation from more established sources and the regulatory oversight that financial matters demand.

Jas Singh, chief executive officer consumer relationships at Lloyds Banking Group, commented on the opportunity and the challenge. “AI is rapidly transforming how people manage their money, with the potential for millions of consumers to feel more confident and in control of their personal finances,” Singh said. “But as AI becomes a bigger part of our financial lives, trust is the next frontier. People want to be sure the information they receive is accurate, secure and truly tailored to their needs.”

With more than one in three adults expecting to increase their use of AI for money management in the next year, banks have a vital role in combining cutting-edge technology with trusted expertise and regulatory clarity to build confidence and unlock the technology’s full potential.