Perceived Risk and Intelligent Investment Advisor Technology Adoption: A UTAUT Perspective

By incorporating the Unified Theory of Acceptance and Use of Technology (UTAUT) model, this research probes the factors influencing the acceptance of intelligent investment advisor technology by a cohort of highly erudite youth. Moreover, the study explores the relationship between perceived risk and behavioral intention. The insights cast light upon each factor's bearing on behavioral intention and supply valuable insights for technology providers and policymakers to boost technology acceptance in this population. An exhaustive survey was implemented among a representative sample of highly intellectual youth to understand the acceptance of intelligent investment advisor technology. The questionnaire encompassed items related to the UTAUT constructs: performance expectancy, effort expectancy, facilitating conditions, social impacts, and behavioral intentions. Additionally, a measure of perceived risk was embedded to assess its influence on behavioral intentions. The study's results disclosed that performance expectancy and facilitating conditions were the chief drivers of behavioral intention. Effort expectancy indirectly affected behavioral intentions through performance expectancy. Perceived risk demonstrated a weak negative impact, while social influence was the least significant influential factor. To conclude, this study presents valuable findings regarding the factors guiding the adoption of intelligent investment advisor technology among highly academic youth. It highlights the crucial role of performance expectancy and facilitating conditions in sculpting behavioral intentions. By grasping these factors, technology providers and policymakers can devise effective strategies to stimulate the uptake of intelligent investment service technologies within this target population.