Investor's perceptions on artificial intelligence (AI) technology adoption in investment services in India

The purpose of this paper is to investigate the investor perception toward artificial intelligence (AI)/Robo advisory services and factors influencing behavioral intention to adopt the same. The study assimilated factors from TAM theory and extended them by adding two vital factors, subjective norms, trust in service as well as service provider. The respondents of the study were investors in the stock market having a basic understanding of investment. Convenience sampling was used to collect data of 252 responses from Delhi NCR during January and February 2020. The results of the study emphasized the role of trust on service as well as subjective norms to be significant variables affecting AI-based investment. Other variables such as perceived usefulness, perceived ease of use, and attitudes were also found statistically significant. This study is an important contribution to the existing body of knowledge in the area of technology adoption because the study significantly explains (R-2 value =82.9%) the factors affecting robo advisory adoption in investment service. The study also suggests important clues for service-providing companies to frame their business strategy in such a way that they can attract maximum clients and achieve a competitive advantage.