What wallet.AI promises to be is a watchdog to monitor, and advice on, that kind of small scale decision-making, which eventually tallies up to a lot of money wasted (or saved) for that person.

Instead, he makes a thousand little decisions every day, some of which are related to spending his money. The common person or consumer does not always think about his taxes. But the vast majority of our time is spent away from that kind of decision-making”. There’s a whole decision-making process that goes on there. But, according to Green, these tools are mainly “concentrated on trying to figure out what’s going on with the taxes.

It’s not as if wallet.AI is the first PFM application or software in the market there are many others such as Mint, QuickBook and Turbo Tax out there. He sees the tapping and analysis of this data as “key to a smarter way to manage finances than a spreadsheet or piece of paper”. While harbingers of privacy might find it alarming, there is another way to look at all of this, which is exactly what Omar Green did. As we move around in this in this heavily connected world, all the data about where we go, what we eat and where we shop, act as breadcrumbs we leave behind, and eventually, as we fill in more details through Smartphone check-ins and everyday updates such as tweets, a pattern of our spending emerges. The idea behind wallet.AI is pretty simple. One of the most potentially path-breaking ventures in this field that has been in the news recently is a PFM (personal financial management) related upcoming start-up based in San Francisco called Wallet.AI which, according to founder and CEO, Omar Green, “builds machines to help consumers make smarter decisions about their money, especially when they’re out spending it”. But, the idea of an AI making our life easier is not a notion that is hard to digest, especially if you think of their uses today, or say, how Google is heavily investing in AI/robotics companies. Now, being an astronaut might not be possible for most of us and it is highly unlikely that Scarlett Johansson will talk to each one of us one on one. But the point is, through movies like Her and Duncan Jones’ Moon, where an astronaut shares a lunar station with a robot voiced by the supremely versatile Kevin Spacey, the general population is being eased into the idea of symbiotic human-AI relationships.

Of course, having the husky voice of Scarlett Johansson has a lot to do with it. In Spike Jonze’s latest gift to the world, Her, he presents us with a protagonist who has feelings for his operating system, which happens to be powered by Artificial Intelligence.

Best personal finance software 2014