Protecting your personal information and financial future in a rapidly changing world.
Artificial intelligence (AI) is transforming how we work, communicate, and manage our finances. While these advancements offer exciting opportunities, they also introduce new challenges in protecting our personal information and making informed financial decisions.
As AI becomes part of everyday life, understanding how to use it responsibly is increasingly important.
Your Financial Information Is More Valuable Than Ever
AI tools can analyze large amounts of personal information, identifying patterns and insights that may not be immediately obvious.
While this can improve financial services, it also raises important privacy concerns. Uploading tax returns, investment statements, or other sensitive documents into AI platforms may expose unwanted information depending on how those services store and use data.
Before sharing financial information with an AI tool, consider where that information is going, how it will be used, and whether sharing it is necessary.
AI Advice Can Sound More Certain Than It Should
AI can help to explain financial concepts, answer questions, and explore financial strategies. However, its responses aren’t always 100% accurate and may overlook important details of your broader personal/financial situation.
This is especially relevant when considering investments, taxes, retirement planning, or estate decisions.
AI can be a valuable educational resource, but important financial decisions should be verified and evaluated within your entire financial plan.
Simple Steps to Protect Your Financial Security
- Protect sensitive information: Avoid sharing confidential financial details with AI platforms unless you understand their privacy and security practices.
- Review privacy settings: Understand how your information is collected, stored, and potentially used before utilizing AI.
- Verify financial guidance: Double-check AI-generated calculations, investment claims, and recommendations.
- Maintain the human element: Seek guidance that considers your complete financial picture and long-term goals.
Technology Changes. The Importance of Trust Doesn’t.
AI will continue to create new opportunities to simplify financial decisions and improve access to information. However, greater access to information doesn’t always lead to better financial outcomes.
At North Oaks Financial Group, we believe technology is most valuable when paired with thoughtful planning, sound judgment, and a trusted relationship with professionals who understand your values and goals.
Important Disclosure: This communication is for informational and educational purposes only. It does not constitute investment advice or a recommendation regarding any security, strategy, or financial planning service. The information presented is general in nature and may not be applicable to your individual circumstances. Individuals should consult qualified financial, tax, and legal professionals before making decisions regarding their specific situation.
AI Disclosure: Artificial intelligence tools may provide incomplete, inaccurate, or outdated information and should not be relied upon as a substitute for personalized financial, investment, tax, legal, or estate planning advice. Any decisions regarding your financial situation should be made in consultation with qualified professionals who understand your specific circumstances.
Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment adviser. North Oaks Financial Group and Thrivent Advisor Network, LLC are not affiliated companies.
Securities offered through Thrivent Investment Management Inc. (“TIMI”), member FINRA and SIPC, and a subsidiary of Thrivent, the marketing name for Thrivent Financial for Lutherans. Thrivent.com/disclosures. TIMI and North Oaks Financial Group are not affiliated companies.
