A Financial Literacy AI-Enabled Voice Assistant System for Educational Use

Abstract

Financial literacy is crucial for saving money, avoiding debt, establishing strong credit, and many other skills that help build wealth throughout an individual's life. A very large percentage of Americans from various demographics and backgrounds do not have the basic financial and economic knowledge to sustain themselves financially. Our proposed solution to tackle financial illiteracy is by ensuring students are taught the foundational expertise at a young age so that they make wise financial choices by the time they reach adulthood. We have developed a virtual voice assistant that will improve financial literacy by offering lessons that will cover all topics within the National Standards in K-12 Personal Finance Education educational curricula. Data was collected and analyzed in order to assess the effectiveness, robustness, and engagement of the voice assistant. While further analysis on engagement should be conducted, the bot met baseline goals of effectiveness and robustness which can further be improved through more intent training and testing on potential users.