Smart Conversations, Smarter Decisions: Determinants of Investor Intention to Use AI-Powered Chatbots for Investment Support
Year: 2026
Type: conference-paper
Study design: Observational Study
Abstract: The increasing integration of artificial intelligence (AI) into financial services has accelerated the use of AI-powered chatbots as tools for investment decision support. However, empirical evidence explaining the behavioral factors that drive retail investors' adoption of such technologies remains limited, particularly in emerging markets. Guided by the Unified Theory of Acceptance and Use of Technology (UTAUT), this study examines the determinants of Filipino retail investors' intention to use AI-powered chatbots for investment decision-making and explores the role of financial knowledge as an outcome of adoption. A quantitative causal-predictive design was employed, using survey data collected from 101 retail and aspiring investors in Metro Manila through purposive sampling. Measurement items were adapted from validated UTAUT scales and analyzed using Partial Least Squares-Structural Equation Modeling. The results indicate that performance expectancy, effort expectancy, and social influence significantly influence intention to use AI-powered chatbots. Intention to use was also found to have a positive effect on financial knowledge, suggesting that AI chatbots function as both decision-support and learning tools. Moreover, investment experience significantly moderates the relationship between the core behavioral predictors and intention, highlighting heterogeneous adoption patterns among investors. The study extends UTAUT to the context of AI-enabled investment decision support and provides practical insights for fintech developers, financial institutions, and policymakers seeking to promote responsible and inclusive AI adoption in retail investing.
Institution: Mapúa University
Language: English
Subfield: Information Systems and Management
Field: Decision Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W7202282913