Artificial intelligence is becoming an increasingly important part of consumer decision-making in Canada, with a growing number of Canadians turning to generative AI tools to guide purchasing choices, according to a new survey commissioned by National Bank of Canada.
The research suggests that AI is evolving beyond a novelty technology and becoming a mainstream decision-support tool across multiple aspects of daily life. Canadians are using AI-powered platforms to compare products and services, plan travel, manage personal finances, explore health and wellness information, and make entertainment and lifestyle choices.
One of the survey’s most notable findings is the perceived financial value of AI-assisted decision-making. A majority of users reported that AI tools help them compare options more effectively and identify opportunities to save money. The study also found that younger consumers are more likely to incorporate AI into purchasing decisions, reflecting broader digital adoption trends among emerging generations of consumers.
However, the findings also highlight the need for caution. While many respondents see value in AI-generated recommendations, a significant number reported experiencing buyer’s remorse after following AI-driven suggestions. The survey further indicates that AI’s influence on purchasing behaviour is, for some consumers, beginning to rival or even exceed that of traditional advertising channels.
The results underscore the growing role of AI as a consumer engagement and decision-making channel, with implications extending across retail, financial services, marketing, and digital commerce.
FTF Insight
For banks, fintechs, insurers, and retailers, the emergence of AI as a trusted purchasing advisor signals a fundamental shift in customer behaviour. As consumers increasingly rely on AI tools to evaluate products, compare financial options, and make spending decisions, organizations will need to rethink customer engagement strategies. The next competitive battleground may not be search engines or advertising platforms, but the AI assistants that increasingly shape how consumers discover, evaluate, and select products and services.
