71% of surveyed Argentine users use or want to use AI for their finances

Artificial intelligence (AI) is gaining ground in the day-to-day management of money: 71% of the 900 Argentine users consulted in a Mercado Pago survey said they already use it to manage their finances or would like to do so. The figure combines two distinct situations: 24% said they already use these tools for that purpose, while 47% expressed interest in adopting them.

The survey also shows that using AI assistants is more common for other tasks: 83% said they had used one at some point. The most frequently mentioned uses included work or study (61%) and resolving everyday questions (59%). In addition, 81% of those surveyed believe that technology will transform the way they manage money.

The figures describe the responses of participants in a survey commissioned by the company itself; on their own, they do not make it possible to claim that the results represent the entire Argentine population. Nor do they indicate that those who expressed interest already use AI for their finances.

Privacy, a condition for broader use

Adopting these tools for financial matters involves handling personal information and, in some cases, enabling transactions. In the survey, 75% identified data security as the main factor they consider before adopting AI in their financial lives. The result reflects a concern expressed by the users surveyed, not an independent assessment of the security of a specific product.

In this context, Mercado Pago announced an update to Mago, its AI-based assistant, available within the app. According to the company, the tool uses account information to answer questions and help users carry out various tasks. The company said that transactions it considers sensitive require user confirmation before they are completed.

What tasks Mago can handle

The update adds more than 100 features, according to Mercado Pago. The announced features include analyzing card spending and checking statement closing and due dates, as well as paying the full statement or part of it from the conversation. It also allows users to set alerts for due dates and balances and check promotions available for their profile.

For the MEP dollar, the company says users can set a reference rate and receive a notification if the exchange rate reaches it. This alert does not execute a transaction: the decision to make one belongs to the user.

Mago also includes tools for businesses, such as scheduling recurring payments to suppliers and grouping transfers to different recipients into a single transaction. Users can interact with it through text, voice, images, or documents; for example, to ask about an invoice or share a screenshot with an alias.

Another announced feature lets users describe a suspicious message, call, or email and ask whether it could be an attempted scam. This is a feature presented by the company, not a guarantee that the assistant can detect every scam.

Agustín Onagoity, vice president of Mercado Pago Argentina, described Mago as an assistant that can “organize, anticipate, and solve real problems” and that lets users carry out or schedule tasks through a conversation. The expanded features aim to take AI beyond general inquiries and into concrete tasks, although the scope of the survey and the characteristics of the service should be distinguished: stated interest is not the same as adoption, and the announced features do not replace the user's review and decision.