FOMO and Online Gambling Pose New Financial Threats to Gen Z
JAKARTA – Generation Z faces increasingly complex challenges in managing finances in the digital era. Beyond the rampant phenomenon of fear of missing out (FOMO), young people are also confronted with the threats of online gambling, cyber fraud, and various get-rich-quick schemes circulating on social media.
The situation has drawn concern because many young people are capable of generating income, yet do not necessarily possess the ability to manage and protect their financial assets optimally. On the other hand, the development of artificial intelligence (AI) technology is also progressively changing the way the younger generation works, learns, and makes financial decisions.
President Director & CEO of PT Indo Premier Sekuritas, Moleonoto The, said AI is no longer merely a technology of the future, but has become part of daily life.
“AI is no longer the technology of the future. AI has become a new infrastructure that changes the way humans work, learn, communicate, invest, and even make decisions in everyday life,” Moleonoto said in a statement on Tuesday.
According to him, without adequate financial literacy, the younger generation risks becoming merely consumers of technology, rather than creators of economic value. Therefore, the ability to manage finances must go hand in hand with an understanding of technological developments.
Indonesia is currently enjoying a demographic bonus with a predominance of productive-age population. Generation Z is one of the groups that will determine the direction of the national economy in the coming years. However, the swift flow of digital information makes them vulnerable to making impulsive financial decisions.
Observing this condition, various financial services industry players have begun strengthening financial education while leveraging AI to help the public make more measured decisions. Investment platforms are also starting to adapt to the character of the younger generation through a more dynamic and personal user interface/user experience (UI/UX).
IPOT, for instance, has updated its investment platform with AI-based technology that allows users to access market information and investment features more intuitively. This step was taken to answer the needs of young people who desire fast, easy digital services that suit their habits.
Moleonoto considers that AI should not be seen as a threat that reduces job opportunities. On the contrary, the technology can serve as a means to improve the quality of decision-making, including in managing finances.
“National economic transformation does not start from stocks or trading, but from a mindset. AI must become a means of improving the quality of life decisions and financial protection,” he stated.
Therefore, increasing financial literacy is considered key so that the younger generation is not only digitally literate, but also able to utilise technology productively. With this foundation, they are expected to avoid the traps of FOMO, online gambling, and various other financial risks that are increasingly rampant in the digital era.