February 2026

Mohammad Anas Wahaj | 14 feb 2026

Effective personal finance decisions require substantial knowledge and understanding of various financial instruments and investment options. With artificial intelligence (AI) getting firmly embedded in our lives, the question arises can Gemini, Grok, ChatGPT etc also make correct financial decisions for individuals. Financial experts suggest more cautious approach that includes using AI just as an assistant to understand financial concepts but for real decision making they advice financial professional's help. In India financial literacy is estimated to be only around 27%. Moreover, studies find that behavioral biases such as panick selling, seeking short-term financial gains, interia etc lead to about 60-70% unsuccessful financial outcomes. Amol Joshi, founder of PlanRupee Investment Services, says, 'Managing personal finance is not a one-time or 'fill it, shut it, forget it' activity. It needs careful product selection, keeping in mind your investment horizon and risk profile. You need to manage asset allocation at portfolio level and also be mindful of tax considerations. AI cannot practically take care of all these aspects end-to-end.' Nehal Mota, co-founder and CEO of Finnovate, says, 'Relying on AI for personal finance can be a good starting point but it isn't the solution in itself... personal finance decisions are very contextual and depend on variables such as income stability, family obligations, risk tolerance, tax residency, and long-term life goals.' Read on...

Moneycontrol: Should you turn to Gemini, ChatGPT or Grok AI to make personal finance decisions?
Author: Navneet Dubey

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