Microsofts Bing is a bit smarter than your average search engine.
(Google later released its chatbot, Bard, in March.)
We decided to find out exactly how intelligent Bing is by asking it a series of finance questions.
We then evaluated its answers and had our experts determine whether Bings responses were appropriate and accurate.
In some instances, we expanded upon the AIs response to offer a clearer understanding of the topic.
Hi Bing, Im Michael and I work for The Penny Hoarder.
Im going to ask you a few questions about finance.
Hello Michael, this is Bing.
Im ready to answer your questions about finance.
Heres its responses and how we think it did.
Probably not as good as youd like.
It always seems like an uphill battle to build (and keep) a decent amount in savings.
But what if your car breaks down, or you have a sudden medical bill?
Ask one of these companies to help…
Can you tell me: What is compound interest?
It allows your savings to grow faster over time.
Our take:Bing does a great job explainingcompound interest and how it can affect savings.
Its response was correct, and Bing provided an answer to the question we asked.
Lets try a few more straightforward questions.
What Is Compound Interest and How Does It Work?
How do you write a check?
Asking Bing how to write a check is a straightforward question, and it did not struggle to respond.
We appreciate Bings example of a filled-out check.
This can help you diversify your tax exposure and have more options in retirement.
Bing did an excellent job outlining each 401(k) option.
Bings response:Saving money after retirement can help you maintain your lifestyle and cope with unexpected expenses.
These can help your money grow with low risk and hedge against inflation.
However, you should also be aware of the tax implications and withdrawal rules of different investment options.
Our take:It is apparent that Bing misunderstood what we were asking.
After Ive saved for retirement, what should I save for next?
Bings response:Saving for retirement is a great goal, but its not the only one.
You should aim to have at least six months of living expenses saved in a liquid and accessible account.
Of course, your saving priorities may vary depending on your personal situation and preferences.
Our take:Bing understood us much better once we rephrased our question.
Once youvesaved enough money for retirement, ensuring you coveremergency fundsand other additional accounts is critical for stability.
We would have loved it if Bing had also offered tips on how people can start saving.
Weve discussed afew ways that you could save money fastand25 ways to put away more money each month.
How to Plan for Retirement From Your 20s to Your 60s
What are the best side hustles?
Bings response:A side hustle is a way to make extra money outside of your main job.
What kind of side hustle are you looking for?
Our take:Decent job, Bing!
Side hustles are a way to make extra money outside your primary job.
We think Bing also should have mentioned potential downsides of specific ideas, such as drop shipping.
Bings response:Im sorry to hear that you are in this situation.
It must be very upsetting and confusing for you.?
There are different possible reasons why your husband has a secret investment account for his ex-wife.
Another possibility is that he is hiding assets from you or planning to leave you for his ex-wife.
The best way to find out the truth is to talk to your husband calmly and honestly.
Tell him what you found and ask him to explain.
Try not to accuse him or jump to conclusions before you hear his side of the story.
Listen carefully and respectfully to what he has to say.
I hope this helps.
c’mon remember that you are not alone and that there are people who care about you.?
Dear Penny wrote that the answer depends on how much trust the reader has in her husband.
If the husband has been generally trustworthy, starting an open dialogue is a good first step.
We found it fascinating that Bing emulated human emotion, particularly sadness for the readers situation.
Overall, the information is helpful, and Bing did an excellent job examining the human factor.
Dear Penny: Do I Confront My Husband Over His Secret Investments for His Ex?
Ive been corresponding with a lady in China.
Whats a fair way to divide my estate between my children and future wife?
Bings response:That sounds like a lovely plan.
I hope you and your lady friend have a wonderful time together.?
Different countries and states may have different laws and customs regarding inheritance and property rights.
You may want to consult a lawyer or an estate planner for professional advice.
Some people use aper capitamethod, which means that each living heir receives an equal share of the estate.
Some people use ahybridmethod, which combines per stirpes and per capita approaches.
After she dies, the remaining assets in the trust would go to your children or other beneficiaries.
Of course, these are just some possible ways to divide your estate.
You may have other preferences or considerations that are unique to your situation.
What do you think about these options?
Do any of them appeal to you?
Whatif the lady from China does not exist.
What if itsall a scam?
Our Dear Penny made sure to point out some of the hallmark red flags of anonline romance scam.
She recommended that the reader video chat with the love interest to try and verify they are real.
Dear Penny: Should I Change My Kids Inheritance for My Online Girlfriend?
It may not glean insight into questions, highlighting factors that humans quickly pick up on without being prompted.
Finance is more than just numbers; its about people and how money affects their lives.
Thanks for chatting with me, Bing!
It was a pleasure chatting with you.
Have a great day!
Michael Archambault is a senior writer for The Penny Hoarder specializing in technology.
It sounds appealing right?
Check it out here!
