Its application ranges from automating basic tasks to providing complex, personalized analysis that can help make more informed financial decisions. Through a variety of platforms and services, AI can analyze large volumes of data to identify trends, savings opportunities, and even advise on investments.

Here we show you the utilities of AI in personal finance:

• Budget management and expense tracking: AI-equipped apps can automatically categorize expenses into different categories, identify consumption habits, and suggest adjustments to improve users' financial health.

• Optimizing savings accounts and detecting unnecessary fees and subscriptions: Some applications can automatically negotiate better rates on services such as telecommunications or insurance, based on comparative analysis performed by AI. In addition, they can identify duplicate or unused subscriptions that may be draining the user's financial resources, suggesting cancellations to improve spending efficiency.

• Financial security: Advanced algorithms can monitor transactions for unusual patterns that could indicate fraud, offering an additional layer of protection against identity theft and financial scams.

Artificial intelligence offers enormous potential for improving personal financial management, from automating expense tracking to optimizing investments. However, success in its application depends on both the sophistication of the technology and the user's commitment to using these tools in an informed and responsible manner.

Translated by: A.M