Nearly Half of Hungarians Use AI for Financial Matters

48% of Hungarians use artificial intelligence (AI) at least occasionally for financial or insurance matters, but 64% of them still turn to people when making important decisions, according to an international representative survey conducted by Ipsos on behalf of the financial advisory firm OVB.

A press release by OVB points out that the survey – conducted in five countries – examined how people use artificial intelligence for financial and insurance matters, as well as what role technology and human advice might play in the future.

An international comparison clearly shows that AI already plays a significant role in financial decision-making in Hungary. Among the countries surveyed, the Czech Republic has the highest rate (49%) of regular or occasional AI use for financial and insurance topics, while Hungary ranks just behind the Czechs, exceeding the 47% in Spain, 43% in Italy, and 37% in Germany. The results suggest that a favorable foundation has been established in Hungary for digital solutions that support – rather than replace – personal financial advice.

According to the study, younger age groups in particular are incorporating AI into their financial decision-making; 68% of Hungarians aged 18–34 use it at least occasionally for financial or insurance matters. Of these, 38% use AI to analyze their own finances, 34% to better understand financial topics, 31% for planning, and 29% to explore financial products.

The results suggest that AI can play an important role in developing financial literacy: it can make taking the first step easier, help formulate questions, compare options, and understand more complex financial issues.

When faced with a major financial decision, 64% of Hungarian respondents would prefer to rely on a person, and only 5% would prefer to rely on AI. Thirty-five percent would follow an investment recommendation provided by artificial intelligence only if it were also confirmed by a financial advisor.