Vol. 6, Issue 2, Part D (2024)

This article explores the demographic traits influencing the adoption and usage of AI-Enhanced personal finance wallets, such as Paytm Money, Dhani, Groww, CRED, Angelone and many more. It examines how these traits i.e. age, income level, education, geographical location, and Digital literacy; impacts the user engagement and overall satisfaction with financial tools. The study assesses financial outcomes associated with AI-driven advice, highlighting improvements in saving, return of interest and budgeting practices. Users experience to be evaluated, through features like personalized recommendations, automatic alerts, and predictive analytical tool, by focusing on how these contribute to user satisfaction. Additionally, the article analyzes behavioral changes in spending and saving as a result of utilizing AI tools, providing insights into the transformative effects of fintech solutions on personal finance management. The findings aim to inform both developers and users about the potential benefits of integrating AI in personal finance applications, while also addressing the challenges related to user demographics and engagement.