Ai robo-advisor anthropomorphism: The impact of anthropomorphic appeals and regulatory focus on investment behaviors

Tae Hyun Baek and Minseong Kim

Journal of Business Research, 2023, vol. 164, issue C

Abstract: Building on anthropomorphism and regulatory focus theories, this research examines the effect of humanizing artificial intelligence (AI)-powered robo-advisors on investment behaviors. Across three experimental studies, the authors find that when financial service marketers design robo-advisors to resemble humans rather than machines, prevention-focused consumers are motivated to invest more money. However, this effect disappears among promotion-focused consumers. Perceived certainty of investment advice is shown to mediate the interactive effect of robo-advisor anthropomorphism and regulatory focus. Theoretical insights and practical implications for using robo-advisors in financial service marketing strategies are discussed.

Keywords: Artificial intelligence; Robo advisor; Anthropomorphism; Regulatory focus; Perceived certainty of investment advice; Investment behaviors (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:164:y:2023:i:c:s0148296323003971

DOI: 10.1016/j.jbusres.2023.114039

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