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Despite AI knowingly providing the wrong information at times, nearly two-thirds of Gen Z and millennials would follow AI’s retirement timeline based on their health, financial and personal data, according to a new report from AI platform Pearl, The AI Accountability & Trust Report.

“As digital natives, millennials may tend to put more faith in technology than the generations before them and have a proclivity for easy, on-demand solutions,” said Moira Corcoran, a certified public accountant (CPA) and Finance Expert on Pearl.com. “The efficiency of AI provides instant guidance without the need to schedule meetings or pay high advisory fees. Because their retirements are not imminent, they may feel the urgency to get precise guidance and are prime candidates to erroneously rely on AI for retirement advice.

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“GenAI’s faulty advice may continue to financially stunt this generation, further pushing off their retirement, home ownership, and savings growth. 

In addition, 41% of Americans feel more comfortable discussing finances with AI than with a financial advisor. “Financial discussions are sensitive as many people feel they should understand how to manage their money particularly by the time they are planning for retirement,” said Corcoran. “AI offers a private space where people can explore their financial concerns without fear of bias or embarrassment. It’s available 24/7, providing convenience without the hassle of scheduling appointments. But while these benefits make AI appealing, there are risks to consider.

“AI lacks human intuition, which is critical for navigating complex financial decisions, market ups and downs, and long-term planning. Relying too heavily on AI could mean following advice without fully understanding it, and because AI’s recommendations depend on the data it’s trained on, inaccurate or incomplete inputs can lead to misleading suggestions.”

Other AI findings, according to the report:

  • 51% of millennials prefer AI over financial advisors for financial advice, compared to only 29% of boomers
  • 50% of Americans would trust AI to predict their retirement timeline
  • 58% of baby boomers would not follow AI’s retirement advice, citing lack of trust.
  • Households earning $100,000 or more use AI an average of 10x per week, compared to those with household incomes between $45,001 – $55,000, who use it 6x per week.

Related: Paychex acquires Paycor for $4.1B in AI-driven push


AI should not replace financial planners, according to Pearl. Given how much people trust AI, they need a better trained large language model that still keeps the human in the loop to avoid life-changing errors like misappropriating retirement plans. 

“Ultimately, while AI is a powerful tool, the best approach is a hybrid one—leveraging AI for quick, data-driven insights while consulting human experts for major decisions and long-term strategy,” said Corcoran. “Retirement planning isn’t just about setting aside money—it requires navigating key financial milestones.”
According to Corcoran, those milestones include Buying a home, Raising a family, Career transitions, health care & long-term care costs and Tax planning & estate considerations.

“The future of intelligence is not about choosing human intuition or AI precision,” she said. “It’s about uniting them seamlessly.”

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Lynn Cavanaugh

Lynn Varacalli Cavanaugh is Senior Editor, Retirement at BenefitsPRO. Prior, she was editor-in-chief of the What's New in Benefits & Compensation newsletter. She has worked for major firms in the employee benefits space, Vanguard and Willis Towers Watson, as well as top media companies, including Condé Nast and American Media.