Consumer's Perspective towards Adoption of Artificial Intelligence: An Empirical Study among banking Companies

Purpose: In this article authors intend to address the consumer perspective on adoption of artificial intelligence (AI) in private commercial banks of India. Its goal is to examine the variables responsible for the adoption of AI. Methodology: In this research work convenience sampling method has been used. The primary data was collected from the customers of Indian commercial banks operating in Delhi. Various statistical tools like validity and reliability analysis, regression, and correlation (discriminant validity) used in this study to establish co-relation between exogeneous and endogenous factors with the help of software like SPSS, AMOS etc. Findings: This study employed a quantitative research design and an exploratory technique to examine association between exogeneous and endogenous factors of AI adoption. The study found a significant positive association of various factors like Awareness about AI, Perceived usefulness, Consumer's Attitude and Subjective norms with intention banking customers to adopt AI. Practical Implication: The banking companies will be benefited from this research by having a better understanding of the consumer's awareness, user's perception, trust factor, and norms regarding AI transformation. Originality/Value: The use of AI in banking apps makes it easier for customers to keep track of their spending and goals. This report will help government to create awareness among customers of banking sector about effective use AI.