Martin Lewis cautions against AI in investment, tax and data sharing

Consumer finance expert Martin Lewis warned that using artificial intelligence for certain financial decisions carries significant risks. He advised against relying on AI to tell users what to invest in, to make tax or pension choices, and to upload full financial details such as bank statements, citing the danger of data being accessed by scammers or used to train future AI systems.

Lewis highlighted safer applications, noting that AI can be very helpful for budgeting, spotting spending patterns and analysing lengthy policy documents, such as travel‑insurance terms, provided users verify the information themselves. He emphasized the need for trusted sources and secure environments when employing AI tools for money matters.