Money Box Live: AI and Your Money

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 15 July 2025

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Three quarters of financial firms are already using Artificial Intelligence, according to the Bank of England and the Financial Conduct Authority, with more set to follow in future.

Last month a new inquiry by the Treasury Committee began looking into the potential impacts of AI in banking, pensions and other financial services.

So what does that all mean for your money? We speak to the experts about how it's being used, the rise of the chat bot and how to spot AI scams after one woman lost £10,000 to fraudsters.

Joining Felicity Hannah this week are Gbenga Ibikunle, Professor and Chair of Finance of Edinburgh University and Jana Mackintosh, Managing Director for Payments and Innovation at UK Finance.

Presenter: Felicity Hannah Producer: Sarah Rogers and Catherine Lund Editor: Sarah Rogers

(This episode was first broadcast at 3pm on Radio 4 on the 18th of June 2025)

Transcript

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0:00.0	I'm Mariana Spring, the BBC's social media investigations correspondent.
0:06.0	In my podcast, I've been investigating what happened to the daughter of a conspiracy theorist who died having rejected chemotherapy.
0:13.0	It would mean the world to me if I could make it that she wasn't just another in the long line of people that die in this way.
0:19.0	How does this reflect the rise of health conspiracy theories on social media and beyond?
0:24.8	The new series of Mariana in Conspiracy Land, listen on BBC Sounds.
0:31.1	BBC Sounds, music, radio, podcasts.
0:35.0	Hello, I'm delighted to be back with the Moneybox Live podcast, where we take a single
0:40.0	personal finance topic and answer as many of your questions as we can. This week we're talking
0:45.7	about artificial intelligence and your money. Three quarters of financial firms are already using
0:51.3	AI. That's according to the Bank of England. So how would you feel about
0:54.8	a bot deciding how much you can afford to spend on a mortgage or even answering your
0:59.8	questions when you message your bank? And criminals are on the case too, lowering people in with
1:05.2	scam investments that can appear terrifyingly real. It looked like Kirstama.
1:15.0	It sounded like Kirstama, but it wasn't him.
1:17.0	Well, I know it wasn't him now.
1:21.2	We will hear more about the case of the Deepfake Prime Minister later.
1:25.1	So how do people feel about AI making financial decisions?
1:29.1	Our producer, Sarah Rogers, went out in Sunny Stockport to ask.
1:30.2	No.
1:31.4	Why not?
1:34.3	Just sceptical, old school, I think.
1:38.3	And I'm still getting over the fact that you can't go into a branch anymore.
	...

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