Artificial Intelligence (AI) has infiltrated so much of our lives. From virtual assistants to smart recommendations, it’s woven into the fabric of our daily lives and has been seamlessly integrated into so many of our frequently used apps. Let’s be honest -most of us probably use ChatGPT more than we’d like to admit. While AI certainly raises concerns, especially around the risks of unregulated use, there is vast potential for these tools to serve as powerful platforms for education, especially in areas like financial literacy, which is an important gateway to financial freedom.
When Eric Jr. got in trouble at school for using ChatGPT to help him complete assignments, his father, Eric McLoyd Sr., saw it as an opportunity for his son to direct his tech skills into a more constructive project. Harnessing his own background as a financial advisor and combining it with his son’s fascination with technology, they got to work on creating an accessible, AI powered tool that could provide financial coaching to anyone interested.
The result of this ambition was Coach Kai, a free financial coaching tool that provides direct access to goal-driven, supportive, financial lessons, along with other educational content. Coach Kai isn’t just a way to learn about budgeting or saving—it’s designed to make financial education accessible to all.
“I’ve met thousands of people who want and need financial coaching, but they were limited by access. Then here’s my son tapping into cutting-edge technology with curiosity and ingenuity…” - Eric McLoyd Sr., Black Enterprise
In 2024, World Economic Forum reported that financial literacy in the United States has remained at about 50% for eight consecutive years, with a 2% drop the preceding 2 years. Through Coach Kai, Eric Jr. and his son are making “financing coaching accessible for everyone.” Drawing from more than 10,000 hours of industry insights by Eric Sr., Coach Kai is an important tool that is making financial freedom achievable for everyone.
