New TD research maps where Canadians accept AI in banking — and where they still turn to a human
A new TD Bank Group survey shows most Canadian clients still prefer human financial advice for major financial decisions — even as AI use in everyday banking grows.
The 2026 TD AI Insights Report, conducted by Ipsos, surveyed 2,501 Canadians aged 18 and over between February 17 and 23, 2026. The poll is accurate to within ±2.4 percentage points, 19 times out of 20.
Where Canadians accept AI
Canadians are most comfortable with AI for routine, time-sensitive banking tasks. According to the 2026 TD AI Insights Report, more than half of respondents said they are comfortable with financial institutions using AI to:
- track spending (55 per cent)
- calculate credit scores (53 per cent)
- answer quick questions about fees or products (59 per cent)
- check account balances and handle routine transactions (55 per cent)
Half said they would use AI themselves for budgeting. Forty-one per cent said AI can help them make better financial decisions. Nearly one in four (24 per cent) said it has already helped them improve their finances.
These results reflect broader uptake of AI-powered tools across Canadian wealth management firms, which have expanded significantly in recent years.
Major decisions: most clients still prefer a human
Despite comfort with AI for everyday tasks, most Canadians prefer human support when financial decisions carry real consequences. Seventy-one per cent said they place greater confidence in human intelligence over AI financial advice overall.
Only 32 per cent said they would trust AI over their parents for financial advice — a measure TD used to gauge preference for AI in personal, high-stakes contexts.
For specific decisions, respondents preferred human advisors for:
- financial planning advice (55 per cent)
- assessing approval for a financial product (55 per cent)
- retirement planning (53 per cent)
“AI has the potential to enhance how we serve clients by improving speed, convenience and personalization, but it is still human connection that builds trust and provides the understanding, reassurance and advice clients need during important financial moments,” said Jayme Martin, district vice president, Greater Hamilton South at TD Bank Group.
Luke Gee, senior vice president and chief analytics and AI officer at TD Bank Group, said AI shapes how clients interact with the bank across everyday and significant life events. “Applied thoughtfully, our AI strategy is helping us deliver service that is more seamless, timely and personalized, while maintaining the human connection that matters most,” Gee said.
Key findings — 2026 TD AI Insights Report
- 71% of Canadians place greater confidence in human intelligence over AI
- 55% prefer human support for financial planning advice and product approvals
- 53% prefer human support for retirement planning specifically
- 59% are comfortable with AI in banking — provided meaningful human oversight is in place
- 61% cite inaccurate information as their top reason for distrusting AI with financial decisions
- 32% would trust AI over their parents for financial advice
Source: 2026 TD AI Insights Report, conducted by Ipsos, February 2026. Sample: 2,501 Canadians aged 18+.
What the data means for Canadian advisors
For Canadian wealth professionals, the survey provides a direct measure of how clients currently perceive AI versus human financial advice. It covers routine tasks, high-stakes decisions, and the conditions under which clients would extend more trust to AI.
The TD findings align with separate Fidelity Investments Canada research from June 2026. That survey found 88 per cent of Canadians who use a financial advisor consider them their most trusted source of financial information, compared to just 5 per cent who said the same of AI.
The data also adds to a growing body of Canadian research on AI use in financial services. The research has tracked how clients are turning to AI tools — sometimes without informing their advisors — for financial guidance.
What Canadians say would increase their trust in AI
The survey identified the top barriers to trusting AI with financial advice:
- inaccurate information (61 per cent)
- privacy and security risks (55 per cent)
- lack of accountability (54 per cent)
When asked what companies could do to close that gap, respondents cited data protection (56 per cent), taking responsibility for errors (55 per cent) and meaningful human oversight (52 per cent). Fifty-nine per cent said they are comfortable with banks using AI if human oversight remains in place.
Full findings from the 2026 TD AI Insights Report are available via the TD Stories page.
