Who Adopts Generative AI? Financial Digital Engagement, the Age Divide and Trust as a Barrier: Evidence from Spanish Household Microdata

Background: Generative artificial intelligence (GenAI) is diffusing among consumers at exceptional speed, yet little is known about how its adoption relates to households’ prior engagement with digital financial services, or about the barriers associated with non-adoption. Methods: Using individual microdata from the 2025 Spanish Survey on ICT Equipment and Use in Households (INE; 14,642 internet users aged 16 and older), we estimate survey-weighted logistic regressions of GenAI adoption on financial digital engagement, digital skills and sociodemographics, with autonomous community fixed effects and cluster-robust standard errors, complemented by average marginal effects, alternative variance estimators, and an analysis of all stated reasons for non-use. Results: GenAI adoption is 37.3% among internet users. Online banking users have 73% higher adjusted odds of adopting GenAI (OR = 1.73; 95% CI 1.53–1.97), and adoption rises monotonically from 18% to 79% across a 0–4 financial digital engagement index, although this gradient is driven mainly by the online banking (extensive) margin. A steep age gradient is present, but the financial digital advantage does not significantly widen with age. Among non-adopters, the most frequently stated reason for non-use is a lack of perceived need (67%); privacy or security concerns are also prominent (43%) and are cited disproportionately by online banking users, women, and older individuals. Conclusions: Prior financial digital engagement is a strong correlate, rather than a demonstrated cause, of consumer GenAI adoption, consistent with experience and facilitating condition constructs in UTAUT2. Among capable non-adopters, for whom access and skills are not the obstacle, privacy- and security-related concerns, rather than a broader deficit of trust in AI, emerge as the most salient barriers to adoption, underscoring these concerns as priorities for consumer-facing AI in financial services.