Acceptance of artificial intelligence devices in banking services: moderation role of technology anxiety and risk aversion

Abstract

Purpose

The purpose of this study is to examine the acceptance of artificial intelligence devices (AIDs) by customers in banking service encounters using the Artificially Intelligent Device Use Acceptance (AIDUA) model and thus test the validity of the AIDUA model in the context of the banking sector as well as extending the AIDUA model by incorporating two moderator variables, namely technology anxiety and risk aversion by regarding the nature of banking services, which are considered highly risky and technology-intensive.

Design/methodology/approach

About 575 valid face-to-face self-administered surveys were gathered using convenience sampling among real bank customers in Turkey. The structural equation modelling was used to test hypotheses involving both direct and moderation effects.

Findings

The current study has demonstrated that the AIDUA model is valid and reliable for the acceptance of AIDs in banking service encounters by modifying it. The study results have shown that the acceptance process of AIDs for bank customers consists of three phases. Furthermore, the study’s findings have demonstrated that technology anxiety and risk aversion have adverse moderation effects on the relationship between performance expectancy and emotion as well as on the relationship between emotion and willingness to accept AIDs, respectively.

Originality/value

The current study validates the AIDUA model for the banking industry. In addition, the present study is unique compared to other studies conducted in the literature since it applies the AIDUA model to the setting of banking services for the first time by considering the potential effects of two moderators.