Would YOU let AI spend your money? Two in five households would hand over shopping and paying bills
New research reveals two in five Britons would let AI spend their money if it meant avoiding routine tasks such as shopping and paying bills.
Many households are already using AI for mundane tasks like providing recipe ideas, scheduling schedules, and answering everyday questions.
But large majorities go further, saying they would trust AI to perform tasks such as buying food or household items or paying the phone bill, which would require access to their money.
This comes as research from payments company Checkout.com claims that a growing number of households are willing to hand over their money to AI.
This is a type of artificial intelligence that can act with autonomy and mimic human decision-making.
Younger generations more likely to cede spending control to ‘agent AI’
However, this trust also has a ceiling. The average customer surveyed said they would let the AI run wild for just up to £200.
Younger generations are much more likely to hand over the reins of their funds to AI.
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Almost seven in 10 people aged 25 to 34 said they would be happy to let these agents handle transactions on their behalf.
Almost half of them (49 percent) said they already use AI to support their shopping decisions, from finding deals to comparing reviews.
However, older age groups are much more cautious about giving control of their money to artificial intelligence.
The proportion of shoppers who would be happy to have AI make purchases on their behalf drops to just 24 percent among people ages 55-64, and to just 13 percent among people ages 65 and over.
Fraud and security risks also remain major obstacles to giving up control of your hard-earned money. Four in ten shoppers said they were concerned about the risk of fraud or data misuse if AI agents started spending on them.
About 31 percent of 2,000 people surveyed said they would consider letting AI spend some of their money if the security of their funds was guaranteed, while 30 percent said they would be impressed by easier refunds or refunds if AI spent their money on the wrong items.
Many families are already turning to AI for shopping inspiration; More than two fifths said they used it to find gift ideas for their partner, while a fifth even asked the AI to write birthday card messages.
Checkout.com’s Jenny Hadlow said: ‘The idea of AI handling your shopping may seem futuristic, but consumers are already halfway there; they just need reassurance that it is safe.
‘Almost half of those surveyed are concerned about losing control over purchases through AI, so companies need to balance convenience with security. Features such as spending limits or category filters can reassure shoppers as this becomes a reality.’
