A new survey by Advance America reveals that the average Marylander is willing to entrust $19,104 to artificial intelligence (AI) for financial management, reflecting a growing openness to algorithm-driven tools. The survey of 3,000 adults nationwide asked respondents the maximum amount they would feel comfortable letting AI manage, with Maryland’s figure slightly below the national average of $20,441.
The survey highlights varied attitudes toward AI’s role in personal finance. In Maryland, 31% of respondents would trust AI to select stocks, 22% to purchase cryptocurrency, and 15% to rebalance their 401(k). Beyond investing, 31% would rely on AI to file taxes, while 25% said they trust AI more than their current financial advisor. Notably, 27% would prefer AI over their partner for managing joint finances, signaling confidence in AI’s objectivity.
“AI can be a valuable starting point when researching your financial options—especially for budgeting, comparison shopping, or exploring different investment strategies,” said Laura McCutcheon, VP of Marketing at Advance America. “But ultimately, major decisions about your money should factor in your unique circumstances, goals, and risks. Those are things AI still can’t fully understand. Think of it as a co-pilot, not the captain.”
Maryland’s willingness to embrace AI contrasts with other states. Californians, influenced by Silicon Valley’s tech culture, topped the list, trusting AI with $46,788.74 on average. Wyoming residents, however, were the most cautious, averaging just $3,571.86, likely reflecting a preference for self-reliance in more rural areas. Advance America’s infographic illustrates these geographic differences in attitudes toward AI-driven finance.
Despite enthusiasm, Marylanders remain cautious about granting AI full autonomy. Only 17% would allow AI to make major financial decisions, such as large investments, without prior notification. For long-term planning, 28% would trust AI to plan their retirement, and 26% would consider AI’s recommendations for loans or mortgages. These figures suggest a preference for human oversight, with AI serving as a supplementary tool.
Advance America emphasizes the importance of combining AI with professional advice. While AI tools excel at analyzing data and removing emotional bias, they lack the ability to fully account for personal circumstances. The company advises Marylanders to use AI for tasks like budgeting or market analysis but to consult financial advisors for major decisions.
The survey’s findings point to a broader trend of AI integration in personal finance, driven by tools that offer real-time market analysis and streamlined processes. In Maryland, where financial decisions impact retirement plans, investments, and tax filings, residents are increasingly open to AI’s potential. However, the limited trust in AI for high-stakes decisions reflects a balanced approach, valuing both technology and human judgment.
Advance America’s infographic provides a detailed breakdown of state-by-state attitudes, offering insight into how Maryland compares nationally. As AI continues to evolve, its role in finance is likely to grow, but for now, Marylanders see it as a helpful assistant rather than a replacement for traditional expertise.