Artificial Intelligence In Personal Finance Management: Opportunities And Challenges

This researchpaper discusses howAI has been integrated into personalfinance management and transformed how individuals deal with financial tasks. Budgeting, investment, and fraud prevention are no longer solely dependent on traditional methods since AI tools have takencenter stage. The increasing complexity of personal financial planning, fueled by issues such as retirement, healthcare, and environmental issues, demands more complex approaches to managing money. Current AI applications are critically evaluated for their benefits and the ethical challenges associated with this field. Through a study of cases on the Mint and Betterment, the research illustrates how AI-powered tools increase efficiency and personalization. Ethical issues including data privacy and algorithmic bias are addressed,together with emerging technologies such as Explainable AI (XAI) and blockchain integration. This report seeks to provide a comprehensive overview of the role AI can play in managing personal finance and its future developments.