Listening

Warm Up

Helpful Words and Phrases

Listen and repeat.

  1. a financial adviser
    • ex. My financial adviser explained how I could invest my savings.
  2. expertise
    • ex. The company hired Maria because of her expertise in computer programming.
  3. affordability
    • ex. We chose this apartment because of its affordability.
  4. cautious
    • ex. I’m cautious when I meet people I don’t know.
  5. empower
    • ex. Learning English can empower people to find better jobs.

Article

Read the article below and answer your tutor's questions.

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About 1 in 5 Americans who looked for financial advice in the past year used artificial intelligence (AI), a new Gallup survey found. However, AI is not the most trusted source of advice. About 8 in 10 adults have some trust in a financial adviser, while only about 3 in 10 trust AI’s expertise in managing money. Only 3% said they trust AI “a great deal.”

Many Americans still use other sources for financial information. About 73% of people who looked for advice searched on the internet themselves. In addition to that, 26% got information from news, media, or social media. Younger adults are more likely to use AI for financial advice than older adults. Experts say affordability may be one reason why younger people choose AI instead of a financial adviser.

Financial experts say people should be cautious when using AI for money advice. MIT professor Taha Choukhmane said AI can help explain basic financial ideas and empower people to learn. However, users should check AI answers with trusted sources. Unlike financial advisers, AI tools are not legally responsible for the financial advice they give.

This material was based on an article by The Associated Press.

Discussion

Choose a topic and discuss the questions with your tutor.

Using AI for Advice

  • Do you think it’s okay to ask AI for financial advice? Why or why not? Discuss.
  • Would you rather ask AI or a person for advice? Why? Discuss.
  • Younger adults are more likely to use AI for financial advice than older adults. Why do you think this is so? Discuss.

Advisers, Expertise, and Information

  • Where do you usually look for information when you have a question (ex. internet, social media)? Why? Discuss.
  • How important is it to get advice from a person with expertise in the topic? Discuss.
  • Who do you ask when you need advice? Discuss.