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AI for the long term health of personal finance

Using AI to spend wisely and make good budget. Different from Chatbot, people can talk to AI like their personal financial advisor.

Photo of Lu Joy Huang
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Who is your idea designed for and how does it support the dreams and obligations of those 50 and older?

The idea is intended for 50 and older who are open to use new technology and looking for dynamic ways to save and spend their funds. The new AI technologies learn from users' past behaviors, listening to users' needs, feeding with most advanced financial research, and giving wise and doable advises to help 50 and older to achieve their goals. The interaction with AI will feel like having a conversation with a smart assistant who is always listening to needs and fast in responses.

Our product using the research we did at University of Michigan to create AI that really understand what users' wants, and use Machine Learning technologies to make customizations. Users don't need to phrase questions in specific ways instead they can have interactions and conversations like with a real financial assistant. 

What early, lightweight experiment might you try out in your own community to find out if the idea will meet your expectations?

I tried in a Yoga studio where most people are in their late 40 or 50 or older, to understand how do they want to have conversation with AI, and what do they want to achieve in their financial goals by using AI. Then I invited them to try out our MVP and give feedbacks on the interaction, UI, and responses.

What skills, input or guidance from the OpenIDEO community would be most helpful in building out or refining your idea?

Which kinds of questions will you ask a smart AI that understand your financial status? What do you want to achieve by using a personal AI to access short term and long term financial health? How do you want to have conversation with AI? In which context, for example, at home or at bus, will you ask AI for spending advice? When asking spending advices, are you in a hurry to get an quick answer like YES/NO or do you want to know the reasons in detail why the AI is giving YES/NO?

Tell us about your work experience:

I am a UX designer working in a startup building AI to make personal finance healthier in the long term. I've been working 4 months in the professional role as a designer but putting my heart in design for 12 years.

Please check all that apply:

  • I work for a service provider of credit unions
  • I'm not currently involved in a credit union, but am curious to learn more!

This idea emerged from

  • A group brainstorm
  • A Design Jam


Join the conversation:

Photo of Rabbia

This is awesome. Ai technology can really help elders especially those 50 years and older. I did some research on this for the last phase and found some interesting points on it. I'm certain this will be very useful for financial assistance.

Photo of Lu Joy Huang

Thanks Rabbia!

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