As artificial intelligence tools become embedded in everyday decision-making, young professionals and students are increasingly turning to them for guidance on personal finance. From budget suggestions to retirement planning, generative AI platforms are being used as instant, accessible advisors. However, experts caution that the quality of advice depends not only on the tool itself, but also on how effectively users interact with it.A CNBC report highlights that crafting the right prompts—essentially the instructions given to the AI—can significantly affect the results. For those entering the workforce or planning long-term financial goals, this emerging skill of “prompt engineering” is becoming a valuable addition to their career toolkit.Emerging skills of quick engineering“I think there’s a real art and science to accelerating engineering,” Andrew Lowe, director of MIT’s Laboratory for Financial Engineering, said during a recent academic presentation. His observation underscores a growing reality: Knowing how to ask the right questions is just as important as having access to the right technology.For students in commerce, finance, and even non-finance streams, this skill is becoming increasingly relevant. “How should I retire?” Such indicators can give general recommendations. On the other hand, detailed information including the determination of financial objectives, risk appetite, and constraints can provide more relevant recommendations.Where AI excels—and where it falls short.AI-based software is most useful in demonstrating general financial principles. For example, AI can clarify what diversification is, what investment options exist, or how one can manage one’s taxes. This makes them useful for learners to build foundational knowledge.However, as CNBC reports, experts caution against relying on AI for financial calculations or personalized tax assessments. Lowe pointed out that AI struggles with highly specific numerical analysis and can produce confident-sounding but incorrect answers due to algorithmic “hallucinations.”“When it comes to very specific calculations of your own personal situation, you have to be very careful,” Lowe told CNBC.A generation turning to AI for adviceThis trend is already visible among young consumers. Research shows that significant numbers of millennials and Gen Z people are using AI for financial advice and taking action accordingly. This development raises some serious concerns about digital literacy and critical thinking.Considering students who will be entering the workforce in finance, consulting, or another similar profession, it is important that they learn about the strengths and weaknesses of AI.How to write better clues.It is recommended that good indicators should be specific, contextual, and structured. Instead of asking broad questions, customers should clearly define their scenario—outlining goals, constraints, and expectations.Financial planner Brenton Harrison emphasizes that even the most sophisticated AI models cannot compensate for poorly framed questions. The principle is simple: Better inputs lead to better output.Another effective strategy, as highlighted in a CNBC report, is “reverse engineering” prompts. People can ask the AI what question should have been asked that would have gotten the right answer so they can improve the way they ask the question next time.It’s all about critical thinking.Although the above features are amazing, people should not completely rely on artificial intelligence in decision making as some things may require human judgment especially complex issues involving finances. It is advisable to verify the sources of information provided by the AI, clear doubts, and cross-check the results.This means that students and young professionals should know that AI can be a great learning tool but it is not an absolute authority. It is important to be able to query, analyze and verify the results of work done by AI.
