Artificial intelligence has become part of most Malaysian’s daily life, from online shopping and navigation, to managing expenses and tracking health, everyone’s using it. According to the Digital Lives Decoded Malaysia 2025 report, the number of Malaysians using AI for financial information and advice has more than doubled in just one year.

The trend is particularly relevant as RinggitPlus prepares to release the RinggitPlus Malaysian Financial Literacy Survey (RMFLS) 2025, which will provide further insights into how Malaysians are managing money when AI is increasingly shaping financial choices.

Everyday AI Use is Growing Rapidly

Nearly nine in ten Malaysian internet users (89%) now use AI tools, up from 75% in 2024. About half use AI every day, with one in four using it multiple times daily. While many turn to AI for productivity at work or school, a growing number are seeking personalised support in areas such as budgeting, financial planning, and investment advice.

Gen Z leads adoption, using AI not only for productivity but also to explore financial guidance and personalised recommendations.

Trust in AI-Generated Financial Advice

Trust levels are shifting. The report shows that trust in AI-generated financial advice rose by 25% between 2024 and 2025, making it one of the fastest-growing areas of confidence. This suggests Malaysians are becoming more open to using AI for decisions that directly affect their money, though concerns about fairness and accuracy remain.

At the same time, the study highlights that Malaysians are cautious. Privacy is the top concern, followed by over-reliance on AI and uncertainty about how AI reaches its decisions.

Balancing Opportunity and Risk

While Malaysians welcome the convenience of AI in financial services, they want assurances on how their data is being used. Less than half (47%) said they are willing to share personal data for better or free services, and transparency is the deciding factor. People are more willing to share if they clearly understand how their data will be used and if the organisation is trustworthy.

This balance between opportunity and caution is likely to feature prominently in upcoming financial literacy discussions, particularly as new AI-driven tools become available to consumers.

Shared Responsibility in the AI Age

Malaysians believe that responsibility for AI governance should be shared between individuals, companies, and government. Interestingly, six in ten Malaysians feel they must take personal responsibility to upskill in AI, even as they expect schools, employers, and policymakers to play their part.

This perspective reflects a digitally aware society that wants to harness the benefits of AI but with safeguards in place.

What This Means for Financial Literacy

As RinggitPlus prepares to release RMFLS 2025, AI will likely play a bigger role in how Malaysians think about financial literacy. The growing use of AI for budgeting, savings, and personalised financial advice underscores the need for consumers to critically assess digital tools, while also ensuring they are protected by clear ethical and regulatory frameworks.

Before that, readers can check out the RMFLS 2024, which found that while Malaysians’ financial well-being had improved, digital financial literacy remained a crucial gap. The growing use of AI for budgeting, savings, and personalised financial advice only underscores the need for consumers to critically assess digital tools, while also ensuring they are protected by clear ethical and regulatory frameworks.

For Malaysians, the challenge is twofold: making the most of AI’s potential in managing personal finances, while demanding transparency, fairness, and human oversight.

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• TAGS:
• Artificial Intelligence
• DIgital Lives Decoded Malaysian 2025 report
• Financial Information
• Malaysians
• Personal Finance
• RinggitPlus Malaysian Financial Literacy Survey
• RMFLS