• Vaibhav Chandrappa
• Dr. Preethi Garg

This study explores the impact of AI-powered robo-advisors on personalized budgeting and wealth management. It examines how these tools enhance financial accessibility, literacy, and user engagement, while also addressing concerns about data security, transparency, and adaptability. Primary data was collected through a detailed survey of users, and secondary data was gathered from existing literature. Key findings indicate that AI-powered robo-advisors reduce the cost of financial advice, making it more accessible. They also help mitigate cognitive biases and optimize portfolio diversification and risk management. However, users express significant concerns about data security and the ability of AI tools to adapt to their evolving financial needs. The study concludes that while AI-powered financial tools offer substantial benefits, addressing these concerns is crucial for building trust and maximizing user satisfaction. Recommendations include enhancing transparency, improving data security, mitigating biases, integrating human oversight, and focusing on the adaptability of AI systems. These measures can foster the effective integration of AI in personal finance management, leading to better financial outcomes for users.  

Keywords: AI-powered robo-advisors, personalized budgeting, wealth management, financial accessibility, data security, financial literacy, user engagement, cognitive biases, portfolio diversification, risk management.

"Exploring the Impact of AI-Powered Robo-Advisors on Personalized Budgeting and Wealth Management", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 5, page no.g884-g931, May-2024, Available :http://www.jetir.org/papers/JETIRTHE2120.pdf

"Exploring the Impact of AI-Powered Robo-Advisors on Personalized Budgeting and Wealth Management", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 5, page no. ppg884-g931, May-2024, Available at : http://www.jetir.org/papers/JETIRTHE2120.pdf