The article warns that while AI can assist with financial tasks like budgeting and explaining terms, it should not replace professional advice.Momentum Savings' Andile Jonas highlights that AI lacks the ability to understand personal circumstances, emotional factors, and life changes such as job loss or family events.Qualified advisers adjust strategies as needed, whereas AI may fail to recognize critical shifts.

The piece cautions against relying solely on AI, emphasizing the risk of 'cognitive debt' where people accept answers without understanding the reasoning.It stresses the importance of human advisers in setting priorities, managing risk tolerance, and avoiding emotional decisions.Consumers are advised to use AI for learning but consult experts for major financial decisions like retirement planning or insurance.Regular reviews of financial plans are also recommended to adapt to life changes.