Customer's Adoption of Artificial Intelligencebased Robo-Advisor Application for Wealth Management- an Extended TAM and TTF Approach
V.S. Damodharan Varadarajan, K.A. Asraar Ahmed, Priya L · 2024
There is a increase in adoption of artificial intelligence across all business fields. This study aims to explore the factors that influence the acceptance of artificial intelligence-based robo-advisor applications for wealth management amongst United Arab Emirati retail investors. This study employed two theories i) The Technology Acceptance Model (TAM) and ii) Task Technology fit (TTF) to understand the investors behaviour towards AI robo advisor app. This study also extended TAM and TTF models to adopt the robo-advisor app. The questionnaire items were adapted and distributed to United Arab Emirates investors using an artificial intelligence robo advisor for wealth management. The sample of this study is 328, and data was collected through an online survey. This study employed partial least squares structural equation modelling for data analysis. The result shows that all the variables of TAM and TTF were significant in adopting AI robo advisors among United Arab Emirates retail investors.