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The Role of Social Factors in the Acceptance of Artificial Intelligence-Based Services: the Example of the Banking Sector of Bosnia and Herzegovina

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  • Turnadžić Tamara

    (PhD Candidate, School of Economics and Business, University of Sarajevo, Trg oslobođenja - Alije Izetbegovića 1, 71000 Sarajevo, Country: Bosnia and Herzegovina)

  • Peštek Almir

    (PhD, School of Economics and Business, University of Sarajevo, Country: Bosnia and Herzegovina)

  • Činjarević Merima

    (PhD, School of Economics and Business, University of Sarajevo, Country: Bosnia and Herzegovina)

Abstract

In times when AI’s development and research is moving at an unprecedented speed, this paper explores its role in retail banking. The results presented are part of a wider research of market readiness and AI acceptance, especially in developing economies. The research was conducted in Bosnia and Herzegovina (B&H). The quantitative portion consisted of a survey completed by 671 respondents. This paper focuses on the influence of social factors (perceived humanness, perceived social interactivity, and perceived social presence) on the attitudes towards – and subsequently acceptance of - AI-based services. Chatbots, specifically ChatGPT-4, were the technology the research focused on. The results indicate that perceived humanness and perceived social interactivity have a positive effect on attitudes – and acceptance – of AI-based services. This research could not prove that there is a positive relationship between social presence and attitudes towards AI-based services. The positive relationship between attitude and acceptance was proven as well.

Suggested Citation

  • Turnadžić Tamara & Peštek Almir & Činjarević Merima, 2024. "The Role of Social Factors in the Acceptance of Artificial Intelligence-Based Services: the Example of the Banking Sector of Bosnia and Herzegovina," South East European Journal of Economics and Business, Sciendo, vol. 19(1), pages 145-158.
    • Handle: RePEc:vrs:seejeb:v:19:y:2024:i:1:p:145-158:n:1010
    DOI: 10.2478/jeb-2024-0010
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    References listed on IDEAS

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    More about this item

    Keywords

    Artificial intelligence (AI); Machine learning (ML); Banking; Technology readiness;
    All these keywords.

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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