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

Author

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  • Hyun Baek, Tae
  • Kim, Minseong

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.

Suggested Citation

  • Hyun Baek, Tae & Kim, Minseong, 2023. "Ai robo-advisor anthropomorphism: The impact of anthropomorphic appeals and regulatory focus on investment behaviors," Journal of Business Research, Elsevier, vol. 164(C).
    • Handle: RePEc:eee:jbrese:v:164:y:2023:i:c:s0148296323003971
    DOI: 10.1016/j.jbusres.2023.114039
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