Consumer Acceptance and Adoption of AI Robo-Advisors in Fintech Industry

Artificial intelligence (AI) has provided significant help in many fields of life. This study proposed a framework that helped in understanding customers' attitudes about the adoption of Robo-advisors. The role of the Technology Readiness Index moderated as one of the primary relationships. A total of 208 potential users of Robo-advisor services provided the data that confirmed the validity of the model. This model provided the input for structural equation modeling and analysis of the study hypotheses. The results indicated that consumers showed positive attitudes about Robo-advisor services, with the moderating effect of Technology Readiness Index dimensions, namely, contributors and inhibitors. Perceived ease of use, perceived usefulness, and perceived convenience influenced consumers in developing positive attitudes about this service. Financial businesses can design better AI Robo-advisor services to fulfill the requirements of a wide range of consumers. This proposed framework contributes to the consumers' understanding of behavioral intentions for the use of Robo-advisors in FinTech.

Automated summary

The study proposed a framework to understand customers' attitudes towards Robo-advisors, with Technology Readiness Index playing a moderating role. Data from 208 potential users confirmed the validity of the model, which was used for structural equation modeling and analysis. The results revealed that consumers had positive attitudes towards Robo-advisor services, influenced by perceived ease of use, perceived usefulness, and perceived convenience, with the moderating effect of Technology Readiness Index dimensions.