Should You Let AI Manage Your Spending — Or Just Guide You?
Using artificial intelligence (AI) to track spending is no longer futuristic — it’s already part of how many people manage their money. But should you trust AI to decide your finances, or simply use it as a smart assistant?
IndiaToday.in spoke to Sameer Mathur, MD & Founder of Roinet Solution, and Manish Mohta, Founder of Learning Spiral, to break it down.
What AI Actually Does
AI-powered finance tools scan your online transactions, spotting patterns you might miss. Beyond monthly summaries, they reveal where and when you overspend. “AI can process large volumes of transactions instantly, identifying areas where costs can be reduced. It personalises insights based on lifestyle, helping users achieve goals faster,” Mathur says.
Mohta puts it bluntly: “AI is like that brutally honest friend who remembers every 2 am food order. It uncovers patterns you’re blind to — splurges, seasonal spikes, and recurring habits.”
Can You Trust the Numbers?
Most AI tools today are highly accurate — over 90% in many cases — when data is clean. They can even catch forgotten subscriptions. But the system isn’t perfect. Cash purchases, shared bills, or mislabelled transactions may cause errors. “A quick human check is still necessary,” both experts caution.
The Privacy Question
Financial data is sensitive, and that’s the biggest concern. Mathur stresses choosing services with “clear privacy policies and bank-grade encryption.”
Mohta adds: “If the terms look like a puzzle, move on.” Users should demand transparency, encryption, and the ability to delete their data anytime.
Should AI Take Control?
Both experts agree: AI should assist, not decide. Mathur calls it a “supplementary tool.” Mohta compares it to a GPS — “It highlights risks but doesn’t choose your destination.” AI is powerful at analysing numbers and giving real-time feedback. But it can’t know your long-term goals, family priorities, or risk comfort.
The Bottom Line
AI works best as a financial co-pilot. Let it highlight blind spots, track habits, and give smart nudges. But keep the final say in your own hands.
Used wisely, AI and human judgement together make the strongest money team.
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