Szerzők: Kenesei Zsófia (BCE) Uhrin Dávid (BCE)
Absztrakt:
What makes consumers willing to entrust their investment decisions to AI-based financial advisors? Our findings suggest that the answer lies less in eliminating perceived risks than in demonstrating the value of automated advice. Drawing on survey data from 793 Hungarian bank customers, we find that perceived performance is a substantially stronger predictor of robo-advisor adoption intentions (β = 0.641) than privacy concerns (β = −0.262). More importantly, mediation analysis reveals that perceived performance consistently transmits the effects of institutional trust, awareness, and anxiety on adoption intentions, whereas privacy concerns do not significantly mediate any of these relationships. Institutional trust enhances consumers’ expectations of advisory quality, while anxiety undermines these expectations and independently discourages adoption. Greater awareness improves performance perceptions but does not alleviate privacy concerns, suggesting that educating consumers about the technology alone is insufficient to address data-related worries. These findings offer actionable guidance for financial service providers. Rather than focusing primarily on reassuring consumers about technological safety, providers should demonstrate the practical value and reliability of AI-generated investment advice. At the same time, reducing anxiety through intuitive interfaces, guided interactions, and accessible human support may be critical for encouraging adoption. Institutional credibility and transparent safeguards remain important, but their value extends beyond risk reduction to strengthening confidence in the service’s competence. Overall, successful robo-advisor adoption strategies should combine convincing evidence of advisory performance with emotionally reassuring service experiences and credible institutional support.