AI chatbots give wrong answers to financial queries ‘most of the time’
Financial advisors aren't being replaced yet. A new report finds AI chatbots fail on tax questions 'most of the time'—hallucinating rules and missing upcoming changes.
Why it matters
As enterprises deploy AI for knowledge work, this report surfaces a critical reliability gap in high-stakes domains (finance, tax, compliance). Practitioners building or buying AI for financial guidance need to see failure rates before rollout; regulators and risk teams will cite this.
The key facts
8 to knowChatbots gave wrong answers to financial queries in majority of test cases
Some chatbots ignored upcoming tax changes
Hallucination of financial rules documented
Report source: Financial Times investigation
Published September 2026
Chatbots 'most of the time' give wrong answers to financial queries
Failures include ignoring upcoming tax changes and hallucinating financial rules
Study suggests compliance and liability risks for enterprises using AI in regulated financial advice
Go to the source
Financial Times Technologyft.com
Publisher excerpt: Report finds some chatbots ignored upcoming tax changes and hallucinated rules