From simplifying your daily tasks and routines to managing your personal finances, Artificial Intelligence (AI) tools are becoming increasingly popular for everyday personal use.
AI is being used in a wide range of fields from medicine and education to customer service, transportation, and finance. But AI tools are also becoming popular for personal use – helping you simplify daily tasks and routines and even managing your personal finances. Here are a few ways you can put AI to work for you.
Creating content
AI tools like ChatGPT and Microsoft’s Copilot can quickly search and summarize information from the web, helping you create and edit content such as drafting emails, writing reports and presentations, and even articles and social media posts.
Personal assistant
AI-powered virtual assistants can manage your calendar, set reminders, and help you stay organized by handling routine tasks and providing timely notifications. Some, like Google Assistant and Amazon's Alexa, can control smart home devices.
Automation
AI can automate repetitive tasks such as data entry, scheduling, and report generation, freeing up your time for more important activities.
Managing personal finances
AI can also help you with your personal finances by setting goals, budgeting, tracking expenses, and even investing.
Budgeting
Automated expense tracking: AI-powered apps like Rocket Money and YNAB (You Need A Budget) can automatically categorize your expenses (like "dining out," "groceries," "entertainment"), track your spending habits, and provide insights on where you can save money.
Personalized budget suggestions: Based on your spending patterns, these apps can suggest personalized budgets and alert you when you’re approaching (or exceeding) your budget limits, to help you stay on track with your financial goals.
Arizona Financial members have access to our free Money Management tool, an online personal financial manager that tracks spending, creates budgets and shows your entire financial picture in one place. Learn More.
Investing
AI algorithms can analyze your investment goals, risk tolerance and financial situation to recommend a diversified investment portfolio that aligns with your needs. Robo-advisor tools use AI to manage your investments automatically, often at a lower cost than traditional human advisors.
Remember though, while AI can provide valuable insights, it's important to carefully review the recommendations and make your own informed decisions.
Debt management
Debt repayment plans: AI tools can help you create a customized debt repayment plan, prioritizing high-interest debts and suggesting the best strategies to pay them off faster.
Credit score monitoring: Apps like Credit Karma use AI to monitor your credit score and provide tips on how to improve it, such as paying down specific debts or avoiding certain financial behaviors.
Security considerations
To help protect your data and privacy when using AI, ensure that the AI tools you use have strong data privacy policies. In addition, make sure to follow security best practices such as using strong passwords for your AI accounts and enabling two-factor authentication.
From automating repetitive tasks to providing personalized financial advice, AI offers a number of user-friendly tools that can help assist you in managing your daily routines and achieving your goals. However, always ensure you use reputable AI tools and make informed decisions based on their recommendations.
The information in this blog is for informational purposes only and does not constitute investment advice. Please consult with a certified financial planner or advisor before making any financial decisions.
