For all of the transformative capabilities of artificial intelligence (AI), AI chatbots are still in their infancy stage. While applications like ChatGPT provide generic information that can be used to jump-start research or clarify terms, trusting it with a serious matter like a person’s finances would certainly be foolish. Or would it?

To test ChatGPT’s accuracy on a unique and universally desired financial end goal for many Americans, GOBankingRates asked it how to become a millionaire and received an answer detailing things like how much you would need to invest and at what return, paths to use (consistent investing, growing a business, building high-income skills), and the importance of living below your means and avoiding wealth killers.

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GOBankingRates then sought a professional to speak on the subject, asking veteran wealth advisor Jake Falcon, CRPC, where the application succeeded and where it failed. Here’s what the founder and CEO of Falcon Wealth Advisors had to say about ChatGPT’s answer on how to become a millionaire.

Where ChatGPT Succeeds

What Falcon liked about ChatGPT’s advice was its emphasis on practicalities. The nuts and bolts of sound planning and wealth building aren’t a mystery, but they need to be adhered to if you’re going to make any progress toward your financial objective.

“ChatGPT’s response to ‘How to Become a Millionaire’ is surprisingly solid for a general audience — it’s structured, motivational, and covers the basics well,” Falcon said. “That said, there are a few areas where it shines and others where it falls short from my perspective.”

Here are three examples where ChatGPT provided solid basic guidance, according to Falcon.

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Emphasizing Consistency and Time

“The breakdown of how monthly investments compound over time is a great way to demystify wealth-building,” Falcon said. “It reinforces the idea that becoming a millionaire is more about discipline than luck.”

Highlighting Multiple Wealth Paths

“ChatGPT does a good job outlining the common routes — investing, entrepreneurship, real estate, and high-income skills,” Falcon explained. “This gives readers a menu of options to explore based on their strengths.”

Promoting Financial Hygiene

“Advice like ‘live below your means,’ ‘avoid lifestyle inflation,’ and ‘track every dollar’ is timeless. These are foundational habits I encourage with many clients,” he said.