Majority of Americans use AI for travel planning

Financial technology company MoneyLion has released its 2024 Travel & AI Trends Report, revealing intriguing insights into Americans’ travel plans and their growing use of artificial intelligence (AI) in trip planning and financial decision-making.

The report, based on a survey conducted by The Harris Poll in May 2024, shows that 83 per cent of Americans are keen to explore new destinations this year.

However, the majority are opting to stay close to home, with 76 per cent planning domestic trips. The Northeast emerged as the most popular region, attracting 24 per cent of travellers.

Perhaps the most striking finding is the rapid adoption of AI for travel planning. A significant 70 per cent of Americans are either already using, planning to use or open to using AI tools for travel arrangements.

Moreover, 71 per cent believe that AI would make the planning process easier than doing it on their own.

The report highlights a clear generational divide in AI adoption. Younger adults aged 18-34 are at the forefront, with 29 per cent already utilising AI tools for travel planning, compared to just 15 per cent of those over 65.

The younger demographic is also more inclined to use AI for financial decisions, with over 80 per cent either using or intending to use AI for financial research and guidance.

Gender and regional differences in AI usage for travel planning were also noted. Men (74 per cent) showed a slightly higher inclination than women (67 per cent) to use or consider using AI for trip planning.

Regionally, the Northeast led with 75 per cent of respondents open to AI-assisted travel planning, followed by the West (72 per cent), the South (69 per cent), and the Midwest (68 per cent).

The report also sheds light on how consumers believe AI can enhance their financial decision-making. Forty per cent said AI could accelerate their financial knowledge growth, while 35 per cent saw potential in AI for personalised financial planning and budgeting.

Despite the enthusiasm for AI, privacy concerns remain. Sixty-two per cent of Americans expressed worries about potential data breaches when using AI for financial advice.

Cynthia Kleinbaum Milner, chief marketing officer at MoneyLion, commented on the findings: “Our 2024 Travel & AI Trends Report highlights how consumers are leveraging AI for smarter travel and financial planning. The findings show that Americans are embracing the adoption of AI to maximise their travel experiences and financial decisions.”