Artificial Intelligence (AI) is becoming part of everyday life and how Canadians manage their money is no exception. Insights from a new TD ("TD" or the "Bank") survey reveals while Canadians are increasingly open to AI for routine financial tasks, they still prefer human advice for high stakes financial decisions.  

AI earning its place in everyday financesAccording to the annual 2026 TD AI Insights Report, Canadians are increasingly open to AI playing a role in banking, particularly when it works behind the scenes or supports routine financial tasks. More than half polled say they are comfortable with financial institutions using AI to help track their spending (55 per cent), calculate credit scores (53 per cent) and half (50 per cent) say they would be comfortable using AI themselves for budgeting.

That openness is strongest in everyday moments where speed, simplicity and convenience matter most. For interactions that are repetitive and time-sensitive, some Canadians prefer AI involvement over a human-only experience, particularly for getting quick answers about fees or products (59 per cent), checking account balances and routine transactions (55 per cent) and resetting passwords or fixing login issues (52 per cent). Forty-one per cent also believe AI can help them make better financial decisions, and nearly one in four (24 per cent) said it has already helped them improve their finances.

"As AI becomes more embedded in everyday life, it is also reshaping what clients expect from their banks and how we show up for them," says Luke Gee, Senior Vice President, Chief Analytics and AI Officer at TD Bank Group. "At TD, AI is a critical driver of how we strengthen our operations, support colleagues, and deliver for our clients â?? both in everyday moments and at key life stages, like buying a home or planning for retirement. 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."

For big money moments, Canadians turn to mom and dadWhile AI may have a growing role in banking, for big financial moments, people still want a more human experience. The majority of Canadians (71 per cent) still place greater confidence in human intelligence over AI, and for higher-stakes financial matters that preference runs deep. Only 1 in 3 (32%) Canadians would rather trust AI over their parents for financial advice, revealing that when financial decisions feel personal or consequential, people prefer reassurance from someone they trust.

This sentiment carries through to major financial decisions. Most Canadians prefer human support for financial planning advice (55 per cent), assessing approval for a financial product (55 per cent) or planning for retirement (53 per cent)â??showing while Canadians may welcome AI in everyday banking, they still turn to a human when the stakes are higher.

"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," says Jayme Martin, District Vice President, Greater Hamilton South at TD Bank Group. "That balance will continue to matter as banking evolves."

Building trust in AI: a clear path forwardLooking at the bigger picture, Canadians are pragmatic about AI. Those surveyed say they are open to it in daily life, but more guarded when the decisions could have a long-term impact. Over half (52 per cent) of Canadians said concerns about errors in high-stakes situations is a key driver of their distrust of AI, and the top three AI distrust drivers are inaccurate information (61 per cent), privacy and security risks (55 per cent) and lack of accountability (54 per cent).

However, the AI trust gap is not insurmountable. When asked what companies could do to increase trust, Canadians pointed to data protection (56 per cent), taking responsibility for errors (55 per cent) and human oversight (52 per cent). That last point carries particular weight, as 59 per cent of Canadians said they are comfortable with banks using AI as long as there is meaningful human oversight. For Canadians, the goal is not less AI, but ensuring the use of AI feels accountable and human-centered.

AI is core to how TD is reimagining banking and tied directly to its strategy to drive deeper client relationships, build simpler and faster experiences, and bring disciplined execution. To see the full findings from the 2026 TD AI Insights Report, visit the TD Stories page or learn more about TD's AI research and development center, Layer 6.

About the Survey    The 2026 TD AI Insights Report was completed by Ipsos and conducted between February 17 and 23, on behalf of TD. For this survey, a sample of 2,501 Canadians aged 18+ was interviewed. Weighting was then employed to balance demographics to ensure that the sample's composition reflects that of the adult population according to Census data and to provide results intended to approximate the sample universe. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll is accurate to within ±2.4 percentage points, 19 times out of 20, had all Canadian adults been polled. The credibility interval will be wider among subsets of the population. All sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error, and measurement error.

About TD Bank GroupThe Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Group ("TD" or the "Bank"). TD is the sixth largest bank in North America by assets and serves 28.1 million clients in four key businesses operating in a number of locations in financial centres around the globe: Canadian Personal and Commercial Banking, including TD Canada Trust and TD Auto Finance Canada; U.S. Banking, including TD Auto Finance U.S., and TD Wealth (U.S.); Wealth Management and Insurance, including TD Wealth (Canada), TD Direct Investing, and TD Insurance; and Wholesale Banking, including TD Securities and TD Cowen. TD also ranks among North America's leading digital banks, with more than 13 million active mobile users in Canada and the U.S. TD had $2.1 trillion in assets on April 30, 2026. The Toronto-Dominion Bank trades under the symbol "TD" on the Toronto Stock Exchange and New York Stock Exchange.

FAQAre Canadians comfortable using AI for financial decisions? According to new TD research, 41% said AI can help them make better financial decisions, and nearly one in four (24 per cent) said it has already helped them improve their finances. Over half (55 per cent) believe AI can bring more financial tools to people who do not currently have access to them, indicating that Canadians see AI as a force for broader financial empowerment.

How can financial institutions make Canadians more comfortable with the use of AI in banking?According to new TD research, the majority of Canadians (71 per cent) still place greater confidence in human intelligence over AI. The need to be understood by another person, in ways AI simply cannot replicate, is why digital progress works best when it is built around people.

What can companies do to increase trust in AI? Canadians pointed to data protection (56 per cent), taking responsibility for errors (55 per cent) and human oversight (52 per cent) according to new research from TD. For Canadians, the goal is not less AI, but ensuring the use of AI is feels accountable and human-centered.

SOURCE TD Bank Group

SOURCE: TD Bank Group

For more information: Ada Lovelace Rampersaud, TD Bank Group, ada.rampersaud@td.com.

COMTEX_484047420/2197/2026-06-17T06:53:00