Keep reading to learn how exactly you can use AI to be proactive about your financial health!

What Do Virtual Financial Advisors Do?

Chatbots

AI is also increasing the accessibility of customer service. Chatbots are computer programs that simulate human conversation in a chatting service through AI. This chatbot is programmed to respond with a real person, or even sometimes with other chatbots.

While these aren't fully cognitively advanced robots, these chatbots are capable of answering basic questions and are available for customers to access at any time of the day. It isn’t as helpful as talking to a real human, but it will answer some of the questions that otherwise would be left unanswered until work hours.

Recommendations

One of the top financial services that harnesses AI is MoneyLion. MoneyLion is a personal finance app that uses machine learning to recommend financial products to their users. Download this application for free to your mobile device to see how you can manage your money in a healthier manner.

They will use your own data to recommend ways you can save, as well as several credit monitoring tools used by hundreds of thousands of people. We recommend their service because of the speed at which the application can analyze the data from their users to create personal financial advice for you.

Additionally, a great asset of MoneyLion is their chatbots. They're highly capable of holding conversation, but can also sense their own weaknesses. If the user’s message isn't getting across to the chatbot, or the user is getting frustrated, the chatbot can sense that and will automatically hang the conversation over to a real human being, to help you get the answers you need.

MoneyLion is a content partner of Benzinga.