Investors are increasingly exploring artificial intelligence (AI) tools for financial and investment guidance, yet many remain skeptical of the output and continue to rely on human advisors when it comes to consequential decisions, according to new research.

A study conducted by Gallup in partnership with Edward Jones found that approximately three-quarters of Americans sought financial guidance from at least one source over the past year.

Among those U.S. adults, 73% conducted their own internet research, 35% consulted family members, 32% turned to professional financial advisors, 26% relied on news or social media, and 23% spoke with friends. An additional 18% sought financial guidance from AI tools such as ChatGPT and Claude.

Confidence levels varied significantly depending on the source. The study found that 79% of American adults expressed at least some confidence in financial advisors, with roughly one-quarter reporting a great deal of confidence. By contrast, fewer than three in ten respondents indicated at least some confidence in AI for financial guidance, and only 3% reported a great deal of confidence.

The findings come as a wave of generative AI tools have entered mainstream use since late 2022, prompting major financial services firms to explore ways to integrate large language models into client-facing services, research, and operational workflows. The U.S. Securities and Exchange Commission has also signaled scrutiny of AI use in the industry, with Chair Gary Gensler warning about potential conflicts of interest when firms use predictive data analytics and AI-driven recommendations.

David Chubak, head of wealth management at Edward Jones, told FOX Business that the research "reaffirms to us is that when it comes to the conversation of consequence, to making a real-life decision, people aren't ready to trust AI as the decision maker for them, as the counselor."

"Rather, they are still relying on their financial advisor as their trusted human partner to help them think through the process, the experience of that decision," Chubak said.

He noted that AI still plays a meaningful role in certain aspects of financial guidance. "AI, as we see it, plays an important role in some of the discovery and approach to people improving their finances. When it comes to improving their financial fulfillment, people still believe inherently in the importance of a human, trust relationship," he added.

Chubak explained that individuals tend to use AI tools for what he described as "tactical" questions, such as gathering information about 401(k) retirement plans, 529 education savings accounts, or the recently launched Trump Accounts. However, people generally do not spend as much time with AI when addressing the deeper purpose of their personal financial planning or the anxieties surrounding those decisions.

"There, they're going to the advisor to have that conversation, to unroot what the real question is that they're trying to solve and then try to solve it with them," Chubak said.

He added that tactical or discovery-oriented interactions with AI tools can "really help them identify when they need an advisor," as well as help them "sharpen where the focus areas that they want to go are, so that the advisor can really hone in on the most impactful opportunities."