A new TD Bank survey shows rapid growth in AI use for financial decisions, while trust and accountability remain firmly tied to human oversight.
4/10/2026 3:00 P.M.
More Americans are turning to artificial intelligence to help manage their finances, but when it comes to making real decisions, they still want a human involved.
TD Bank recently released its second annual U.S. AI Insights Report, offering a closer look at how consumers use and think about AI. The findings show AI adoption is becoming more mainstream, with more than three-fourths (78%) of Americans reporting using AI-enabled tools in their daily lives. Another two-thirds (67%) also say they are more proficient with the technology than they were just a year ago.
And it’s not limited to workplace productivity or simple questions. According to the report, 55% of consumers now use AI tools for financial guidance, a large jump from just 10% last year.
That growth reflects what TD describes in an article on the report as an “inflection point,” where AI is moving from experimentation into everyday use. In fact, 78% of Americans report using AI tools in some form, and many say they are becoming more comfortable with the technology.
“There’s an evolutionary journey people take in adopting new technology,” said Ted Paris, head of analytics, intelligence and AI at TD Bank U.S, in coverage of the report by American Banker. “People are going to look for things to facilitate and ease their [lives].”
But while usage is climbing, trust is not keeping pace.
Only 18% of consumers say they would trust AI to make financial recommendations on its own, according to the survey — reinforcing that people are turning to AI for help but not handing over the final decision.
“Trust is earned when AI is accurate, transparent and guided by human judgment, especially in moments that matter most, like financial decisions,” Paris said in the TD report. “…The majority today still say… they want to make sure there’s true human intelligence behind the curtain.”
That gap in trust highlights a key tension: consumers value AI for convenience and efficiency but remain cautious about its limitations, particularly when context, accountability and personal judgment are involved.
“Financial advice without context is limited,” said Zor Gorelov, senior advisor at Klaros Group, in the American Banker report. “Without access to a person’s full financial picture … the output remains inherently shallow and potentially misleading.”
For financial services providers, the findings show a clear opportunity and responsibility.
Consumers increasingly expect AI-powered tools to enhance their experience, yet they still place the highest level of trust in human relationships and institutions. According to the survey, 90% of respondents trust personal relationships and 85% trust financial institutions, significantly higher than trust in AI alone.
Why It Matters
As AI adoption continues to grow, the expectation is no longer whether it will be used, but how.
For agencies and financial service providers, that means balancing efficiency with accountability — leveraging AI to improve operations while maintaining the human oversight that consumers still rely on.
The takeaway is clear: AI may be changing how consumers seek financial guidance, but it hasn’t replaced the need for trust, transparency and human judgment.
ACA’s Take
April is Financial Literacy Month — a great time for ACA members to support consumer education on topics such as identity theft, fraud and scams. You can share ACA’s Know My Debt with consumers and clients as part of that process.
To add Know My Debt to your website, create a link on your consumer resources page with the suggested title, “Know My Debt: Explaining Consumer Rights and Navigating Debt Solutions.”
Building consumers’ financial literacy benefits everyone. It helps them understand how they got into debt, how to work with collectors to resolve their account and how to right the ship going forward. It shows clients that you care about their customers. Plus, it helps collectors when consumers trust their motives and the debt collection process in general.
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