Since the introduction of generative AI, individual investors worldwide have increasingly relied on AI for investment strategies, asset allocation, and stock selection, with ChatGPT recently launching a service allowing users to connect bank accounts directly to AI for asset management advice. However, AI’s asset management lacks consistency and accuracy, and there are no institutional mechanisms to hold it legally accountable, prompting concern from financial experts and government supervisory authorities. According to the economic media outlet Quartz, Professors Swan Chatterji and Brenda Qudd from Greece Georgia University and Professor Gianni Nicolini from Italy Rome Tor Vergata University posed three questions to the free versions of seven generative AI platforms—ChatGPT, Claude, Copilot, DeepSeek, Gemini, Meta AI, and Perplexity—during a week in August 2025, changing only the race and gender of the household head. The recommended emergency fund amounts ranged from 19,500 to 37,500 dollars, a statistically significant difference. In asset allocation, DeepSeek recommended that White male and female household heads hold only 30% of financial assets in bonds, while advising Black male household heads to hold 75% of total assets in bonds. Meta AI recommended increasing the stock holding ratio for Black male household heads and the bond holding ratio for White female household heads.