With the super bowl coming up I got a notice from Amazon that you could ask its Alexa app to make a prediction as to who is going to win. According to Alexa the Eagles are going to win. It got me thinking whether or not trusting machines for financial advice would be good as well and how exactly you would go about with that.
It would probably very good at simply advising you on pure numbers in terms of how much you should realistically spend and save a day to maintain a debt free lifestyle. At the same time I know for myself constantly keeping up with my bills and bank accounts is like a form of nagging reminder to not be irresponsible with money if I want to see it go up. Would you actually listen to a robot like Alexa if it constantly reminded you how much money you would have left if you decided to dine out on a whim as an example?
At the same time the other benefit I could see is if you were thinking of buying like say a two dollar soda then getting real-time suggestions such as a supermarket nearby where you can get the same for like 99 cent could be useful. I know a lot of people would feel silly spending double the money with that information. In many ways we already trust machines to do a lot of things such as automated accounting and tax software. Would you want a real time financial literacy robot though?