Robo-advisor acceptance: Do gender and generation matter?

Robo-advice technology refers to services offered by a virtual financial advisor based on artificial intelligence. Research on the application of robo-advice technology already highlights the potential benefit in terms of financial inclusion. We analyze the process for adopting robo-advice through t...

Full description

Saved in:
Bibliographic Details
Published in:PloS one 2022-06, Vol.17 (6), p.e0269454-e0269454
Main Authors: Figà-Talamanca, Gianna, Tanzi, Paola Musile, D'Urzo, Eleonora
Format: Article
Language:English
Subjects:
Advisors
Algorithms
Analysis
Artificial intelligence
Attitudes
Automation
Bank technology
Biology and Life Sciences
Computer and Information Sciences
Consultants
Demographic aspects
Evaluation
Financial inclusion
Financial management
Financial planners
Forecasts and trends
Gender
Gender aspects
Gender differences
Human error
Hypotheses
Influence
Information systems
Portfolio management
Research and Analysis Methods
Research methodology
Robotics
Sex differences
Social Sciences
Technology
Technology Acceptance Model
Technology adoption
Technology utilization
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:Robo-advice technology refers to services offered by a virtual financial advisor based on artificial intelligence. Research on the application of robo-advice technology already highlights the potential benefit in terms of financial inclusion. We analyze the process for adopting robo-advice through the technology acceptance model (TAM), focusing on a highly educated sample and exploring generational and gender differences. We find no significant gender difference in the causality links with adoption, although some structural differences still arise between male and female groups. Further, we find evidence that generational cohorts affect the path to future adoption of robo-advice technology. Indeed, the ease of use is the factor which triggers the adoption by Generation Z and Generation Y, whereas the perceived usefulness of robo-advice technology is the key factor driving Generation X.sup.+, who need to understand the ultimate purpose of a robo-advice technology tool before adopting it. Overall, the above findings may reflect that, while gender differences are wiped out in a highly educated population, generation effects still matter in the adoption of a robo-advice technology tool.
ISSN:1932-6203
1932-6203
DOI:10.1371/journal.pone.0269454