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Only 3% Of Americans Trust AI "A Great Deal" With Their Money - But One In Five Are Using It Anyway
A new Gallup survey finds a wide gap between the financial advice Americans say they trust and the advice they actually take.
Just 3% of Americans say they have "a great deal" of confidence in artificial intelligence to help manage their money - while about 30% express "a great deal" or "some" confidence. Moreover, roughly one in five people who sought financial advice in the past year used AI to get it.
The poll, conducted March 20 - April 6, sampled 5,075 U.S. adults aged 21 and older using Gallup's probability-based panel. The survey was run in partnership with Edward Jones - a brokerage that employs roughly 19,000 financial advisors, and whose interests are not entirely disinterested in the result.
Meanwhile, about 80% of adults have at least some confidence in traditional financial advisers. Only about one-third of those who sought advice actually consulted one. Far more - 73% - relied on their own online research.
Most adults sought guidance from at least one source over the past year. Beyond internet searches, advisers and AI, 35% turned to a parent, sibling or other relative; 26% consulted news or social media; about one in five went to friends, authors, speakers or influencers; and smaller shares used employers, retirement-plan providers, robo-advisers or teachers.
The generational splitRoughly a quarter of Gen Z and millennial respondents who sought advice used AI, against 16% of Gen Xers and 7% of baby boomers.
The professional-adviser numbers run precisely the other way: 14% of Gen Z, 21% of millennials, 34% of Gen X, and 55% of baby boomers.
Cost is the obvious explanation. Online research, family input and AI tools are free or close to it. Hiring an adviser is not.
What the experts sayTaha Choukhmane, an associate professor at MIT's Sloan School of Management, told the Associated Press he recommends treating AI as a starting point rather than a final authority. "I would encourage people to use AI to explain and define," he said - for example, to clarify what the stock market is, or the difference between a mutual fund and an index fund. He also suggests asking AI to supply references so users can verify what they are told.
Certified financial planner Bobbi Rebell of Financial Wellness Strategies pointed to a legal distinction that has no technical equivalent. Professional advisers often carry fiduciary responsibility - a legal obligation to act in the client's best interest.
"There's no AI that is a fiduciary," she told AP. "It doesn't really know your life; it's not asking you all the questions."
Whatever the source, the decisions remain the individual's responsibility - and so do the losses.
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English Village Will Have Six Migrant Men To Every Woman
Authored by Steve Watson via Modernity News,
A quiet North Yorkshire village of roughly 600 people is set to be flooded with around 1,200 single adult male asylum seekers at the nearby disused RAF Linton-on-Ouse base. Local women would be outnumbered six to one.
Labour MP Rachael Maskell has raised the alarm over the plan, which forms part of the government's wider push to move roughly 3,750 people into three former military sites near villages as it tries to empty asylum hotels.
The base sits beside a primary school and nursery, has only four buses a day into York, and already faces severe shortages of water, sewage capacity and electricity. Maskell has written to border security and asylum minister Anna Turley and is due to meet Home Office officials this month.
Women 'to be outnumbered six to one' after Labour floods illegal migrants onto tiny village's doorstephttps://t.co/s5yXOP9cY8
— GB News (@GBNEWS) August 13, 2026"It's just the wrong site," Maskell said. "The last government realised that, once they got into the detail. All we're saying to this Government is that it's really important that they recognise that too, because the site is in a worse state now than it was when the Government last looked at this."
Similar plans for Linton-on-Ouse were abandoned in 2022 after fierce local opposition. Now they are back under active consideration. Local Tory councillor Malcolm Taylor captured the mood of residents who moved there for a quiet life: "They've moved there for the peace, tranquillity and quality of life. This hand grenade has been thrown in."
Professor Olga Matthias of the Linton Action Group called the village "categorically the wrong place for so many reasons."
'That doesn't add up at all with what the left have been telling us.'
'It's the hypocrisy.'
Mark Littlewood and Nina Myskow discuss a Labour MP who has warned that a plan to move more than 1,000 asylum seekers next to a small Yorkshire village. pic.twitter.com/onBRdNHwyF
This is not an isolated case. It follows the same pattern seen in the tiny Oxfordshire village of Piddington, population around 350-400, which faces plans for 1,250 single adult male asylum seekers at a former Ministry of Defence depot right next to a children's playing field.
Residents held a symbolic independence referendum in which 96 percent voted to leave the United Kingdom in protest. Children wrote letters pleading with the Prime Minister not to destroy the only home they have ever known. Parish council chairman Tim McNally has repeatedly warned that the scale is neither fair, safe nor responsible.
Prime Minister Andy Burnham has responded by doubling down. He insists that "all parts of the country need to play their part" and that middle-class and leafy areas can no longer be shielded while poorer communities carry the load.
Borders minister Anna Turley has defended the approach as creating a "more fair and equitable system," even while acknowledging that concentrating arrivals in deprived areas previously fuelled "civil unrest."
The same government that lectures about fairness is also quietly imposing itself on other quiet rural communities. In the tiny Welsh seaside village of Gronant, population around 1,600, residents discovered that their former village hall - converted into 15 new-build homes they expected to go to local families or the open market - had been handed over to asylum seekers.
Thirteen of the fifteen units were taken by Home Office contractor Clearsprings. Blacked-out minibuses arrived without warning. Locals described it as pure betrayal. One resident, Kerrie Cox, said nobody was told about the arrivals. Another called it an "absolute betrayal."
These placements keep following the same template. Single adult men, overwhelmingly of fighting age, are being directed into the most culturally alien, high-trust, low-density English and Welsh villages imaginable - places defined by quiet streets, children's parks, limited public transport, and a long-standing sense of safety.
The contrast could scarcely be sharper. It repeatedly seems like an intentional choice designed to generate the maximum possible friction and cultural upheaval. They could not possibly find locations more foreign to the backgrounds of many of these arrivals.
Andy Burnham will 'push ahead with plans to move asylum seekers to middle-class areas despite higher cost to taxpayers' https://t.co/jZhK27PwgJ
— Daily Mail (@DailyMail) August 13, 2026The government claims the military sites will keep people "contained." In practice, residents are free to come and go. Infrastructure is inadequate. Policing is already stretched thin in these rural areas. Women and girls who once walked freely after dark now face the prospect of living in communities where adult men from very different cultural norms suddenly outnumber them by orders of magnitude.
This is the logical endpoint of a policy that refuses to stop the boats while insisting every corner of the country must absorb the consequences. Closing hotels and shifting people into former barracks or new-build village homes does not reduce the pull factor. It upgrades the destination.
The result is the steady erosion of the very places that once defined the character of rural Britain - one quiet village at a time.
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Is AI Good For The US Labor Market And Bad For Europe's?
France's unemployment rate has been climbing steadily over the past eighteen months to the highest level in five years, with unemployment increasing across all age groups.
The US, by contrast, has stayed essentially flat and near multi-decade lows over the past few years.
While there are multiple factors driving both country's economic progress (or lack of it), Apollo's Chief Economist, Torsten Slok, recently noted that Europe and the US face the same AI displacement.
But, only the US gets what offsets it:
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the startup formation,
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the CapEx, and
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the hiring that comes from building the technology rather than only absorbing it.
The widening unemployment gap between France and the US is starting to look like the price of being on the wrong side of that asymmetry.
Underestimating AI Disruption?Slok also points out that consensus earnings expectations still imply remarkably little disruption from AI.
Of more than 200 publicly traded software and white-collar services companies we track, only 10 are currently expected to experience both revenue and EBITDA declines over the next two years.
That suggests markets may be pricing in the possibility of AI disruption without yet fully incorporating its potential impact on earnings and margins.
Apollo sees that AI pressure as manifesting through three channels:
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direct replacement, where AI performs the same task at a lower cost;
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labor displacement, where AI reduces the number of employees, contractors or users supporting a business model; and
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execution risk, where AI-native competitors innovate faster and take market share.
As adoption accelerates, these are the channels we are watching for signs that AI disruption is beginning to show up in fundamentals.
Read more in Apollo's 2026 Midyear Credit Outlook.
Tyler Durden Fri, 08/14/2026 - 05:45