Human-Computer Interaction (SIG HCI)
Loading...
Paper Type
ERF
Paper Number
1118
Description
Financial robo-advisors have been used in the financial advisory service and have started to serve consumers’ daily investment advice. It is unclear, however, how visual designs of robo-advisors will have spillover effects on the decisions involving high risk and uncertainty (i.e., investment advice-taking behavior). This study investigates the visually anthropomorphic designs of robo-advisors and their effects on consumers’ trust and risk perceptions, as well as their investment advice-taking behavior. In particular, according to the advice response theory, we propose that an anthropomorphic robo-advisor will increase users’ trust in the robo-advisor, decrease their perceived risk of financial advice, and in turn, affect users’ responses towards the investment advice. The findings will contribute to the literature related to robo- advisor, advice-taking, and anthropomorphism, and proffer insightful takeaways for managers about how to use different designs of robo-advisors to improve their services and user experience.
Recommended Citation
Deng, Bingjie and Chau, Michael, "Anthropomorphized Financial Robo-advisors and Investment Advice-taking Behavior" (2021). AMCIS 2021 Proceedings. 4.
https://aisel.aisnet.org/amcis2021/sig_hci/sig_hci/4
Anthropomorphized Financial Robo-advisors and Investment Advice-taking Behavior
Financial robo-advisors have been used in the financial advisory service and have started to serve consumers’ daily investment advice. It is unclear, however, how visual designs of robo-advisors will have spillover effects on the decisions involving high risk and uncertainty (i.e., investment advice-taking behavior). This study investigates the visually anthropomorphic designs of robo-advisors and their effects on consumers’ trust and risk perceptions, as well as their investment advice-taking behavior. In particular, according to the advice response theory, we propose that an anthropomorphic robo-advisor will increase users’ trust in the robo-advisor, decrease their perceived risk of financial advice, and in turn, affect users’ responses towards the investment advice. The findings will contribute to the literature related to robo- advisor, advice-taking, and anthropomorphism, and proffer insightful takeaways for managers about how to use different designs of robo-advisors to improve their services and user experience.
When commenting on articles, please be friendly, welcoming, respectful and abide by the AIS eLibrary Discussion Thread Code of Conduct posted here.