Summary: This article discusses a new report by Kit, a financial education app for children built by Commonwealth Bank of Australia, which reveals parental concerns about children's financial literacy, but suggests AI and gamification could offer solutions, with most parents seeing potential benefits in these technologies. Kit's Managing Director emphasizes the effectiveness of gamification in learning, leading to the development of Kit Money Quests, which aims to enhance financial education in an engaging manner. While organizations like Banqer and Ecstra use gamification to boost financial literacy, there's a caution about striking a balance between engaging methods and real-life financial education to ensure effective learning outcomes and address privacy concerns.
Source: The Educator
Date: September 28, 2023
