NEW YORK — With credit unions and their employees wrestling with the rapid adoption of artificial intelligence as much as other employers, a new report finds employees are quickly adopting AI tools in the workplace but remain reluctant to cede decision-making authority to the technology.
TD Bank’s second annual AI Insights Report found that 83% of employed respondents now use AI-powered tools at work, up 20 percentage points from a year earlier. Adoption increased for both employer-provided tools, which rose to 75% from 63%, and independently accessed tools, which climbed to 78% from 66%.
Workers using AI said the technology helps them complete tasks more quickly, generate ideas and make decisions more efficiently. About 71% said AI gives them a competitive advantage over peers in similar roles, TD Bank reported.
The Broader Shift
According to the authors of the report the findings point to a broader shift in how employees view AI, particularly for finance leaders evaluating investments in the technology. Rather than seeing AI as a threat to jobs, workers increasingly view it as a tool to enhance performance, the report said.
The survey also highlighted growing use of AI in personal finance. About 55% of respondents said they use AI to help manage their finances, compared with just 10% a year earlier. TD’s findings are based on a nationwide survey of more than 2,500 consumers.
Despite the growing adoption, most respondents said they want humans to retain final decision-making authority, TD Bank reported. Only 18% said they would trust AI to make financial recommendations entirely on its own.
Comfortable With Supporting Roles
Comfort levels were highest when AI was used in supporting roles, such as recommending products or services, detecting fraud, tracking spending and calculating credit scores.
“Consumers see real value in AI when it simplifies their experience, without losing the human touch,” said Jo Jagadish, head of digital banking, payments and contact centers at TD Bank U.S., in the report.
Trust in AI is increasing, however. About 62% of respondents said they trust AI to provide reliable and competent information, up from roughly half last year.
TD Bank said it is expanding its investment in AI, with approximately 2,500 employees working on AI development and a partnership with Columbia University to provide executive training for senior leaders.
