Artificial Intelligence of Things (AIoT)‐Enabled Personalized Banking
Ashok Singh Malhi, Raj K. Kovid, Thipendra P. Singh · 2024
Information technology has evolved at breakneck pace in terms of invention, implementation, and application thereby having a big impact on the way people manage their routine affairs using various forms of technologies such as artificial intelligence of things (AIoT). Even the banking industry does not dare to claim immunity from the direct effect of information technology diffusion (DIT). However, how these technologies are perceived by consumers of banking services remains underexplored, especially in emerging markets. This study aims at addressing this issue by investigating consumer acceptability of AIoT-enabled personalized banking (AIoT-PB) in the context of India. The study used theoretical frameworks of technology acceptance model (TAM) and organizational characteristics (OC), to assess customers’ perception of AIoT-PB. A quantitative survey was used to gather data, which were then analyzed using PLS-SEM path model. The findings indicate that there are complex relationships between perceived ease of use (PEOU), perceived usefulness (PUS) and bank reputation (RB) in predicting consumer attitudes (ATT) and behavioral intentions (BHE) toward AIoT-PB. The results show that banks should prioritize basic AIoT solutions that boost customer value via increased efficiency in interacting with the interface system. Additionally, the findings imply that banks form reciprocal agreements with service providers such as Netflix, that use the Amazon cloud server, to increase customer adoption of AIoT technology.