Attitude, Behavioral Intention and Adoption of AI Driven Chatbots in the Banking Sector

Abstract

In this tech-savvy era, banks are investing in technologies such as artificial intelligence and the Internet of Things. Chatbots, which is one of the AI-driven technologies, are being used by banks to keep customers satisfied and retain their loyalty. Chatbots are used as a platform for promptly handling customers' requests, while also acting as a listening channel for banks to better understand customer reactions and offer tailored services. This study attempted to assess the attitude, behavioral intention, and adoption of AI-driven chatbots among banking customers. A modified version of the UTUAT framework was used to validate the factors of adoption of AI-driven chatbots in the banking system. The study resulted in a positive and significant relationship between attitude and behavioral intention towards the use of AI-driven chatbots in the banking system. Furthermore, a significant relationship was found between behavioral intention and adoption of AI-driven chatbots in banking. The perceived risk, performance expectations, and effect expectancy influenced the attitude of banking customers towards AI-driven chatbots. The subjective norms and facilitating conditions affected the behavioral intention to use the chatbots, which significantly influenced the adoption of chatbots in banking. The facilitating conditions of banks strongly influenced the behavioral intention of banking services users in developing countries to use chatbots. The study took place in tri-city of India, and a future study could be undertaken from a global perspective.