The Impact of Lay Beliefs about Artificial Intelligence on Behavioral Intentions towards Robo-advice
(A2019-7901)

AUTHORS

Benjamin von Walter, FHS St.Gallen University of Applied Sciences; Dietmar Kremmel, FHS St.Gallen University of Applied Sciences

KEYWORDS

robo-advice; smart technology; professional service

ABSTRACT

In this research, we investigate how consumer beliefs about artificial intelligence influence behavioral intentions towards robo-advice, a new type of self-service technology which automates professional advice giving. A qualitative study and an experiment show that beliefs about the relative level of artificial intelligence may have a strong impact on consumers' intentions to adopt a robo-advice service. In addition, our findings indicate that the impact of such beliefs is contingent on a robo-advisor's level of decision automation. Only consumers who feel that they are free to decide whether they want to follow advice or not regard a higher level of artificial intelligence as beneficial when receiving advice. These results may help to better understand consumer acceptance of robo-advice and other smart services.