Would YOU let AI spend your money? Two in five households would hand over shopping and paying bills

Two in five Britons would let artificial intelligence spend their money if it meant they could avoid routine jobs like shopping and paying bills, new research reveals.

Many households are already using AI for menial tasks like recipe ideas, schedule planning and answering everyday questions.

But a large chunk say they would go further and trust AI to handle tasks such as buying groceries or household goods or paying their phone bill, which would require it to have access to their money. 

That is according to research by payments company Checkout.com, which claims an increasing number of households are willing to hand over their money to agentic AI. 

This is a type of artificial intelligence that can act with autonomy and mimic human decision-making.

Younger generations are more likely to hand over spending control to ‘agentic AI’

However, there is a ceiling to that trust. The average shopper surveyed said they would only let AI run amok with up to £200 of their money.

Younger generations are far more likely to hand over the reins of their funds to AI. 

Nearly seven in 10 25 to 34 year olds said they would be happy to let these agents handle transactions for them.

Of these, almost half (49 per cent) said they were already using AI to support shopping decisions, from finding deals to comparing reviews.

Older age brackets, however, are far more cautious about giving AI control of their money.

The proportion of shoppers who would be comfortable for AI to handle purchases on their behalf dwindles to just 24 per cent of those ages 55 to 64, and to just 13 per cent for those aged 65 and over. 

Fraud and security risks also remain huge barriers for relinquishing control of hard-earned cash. Four in ten shoppers said they worried about the risk of fraud or data misuse if AI agents started spending for them.

Some 31 per cent of the 2,000 people surveyed say they would consider letting AI spend some of their money if there was guaranteed security of their funds, while 30 per cent said easier refunds or returns would sway them in case AI spent their money on the wrong items.

Many families are already turning to AI for shopping inspiration – more than two in five say they have used it to find gift ideas for a partner while one in five have even asked AI to write birthday card messages. 

Jenny Hadlow, of Checkout.com, said: ‘The idea of AI running your shopping might sound futuristic, but consumers are already halfway there – they just need reassurance it’s safe.

‘Nearly half of those surveyed worry about losing control over what’s purchased through AI, so companies must balance convenience with security. Features like spending limits or category filters could give shoppers confidence as this becomes reality.’