Intention to use AI chatbot among genz personal financial planning in Klang Valley Malaysia

Lim, Kean Chuan (2024) Intention to use AI chatbot among genz personal financial planning in Klang Valley Malaysia. Final Year Project, UTAR.

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Abstract

This study examines Generation Z's intention to use AI chatbots for personal financial planning in Klang Valley, Malaysia. By integrating the Protection Motivation Theory (PMT) and the Unified Theory of Acceptance and Use of Technology (UTAUT), the research explores how cybersecurity concerns, threat appraisals, and enabling factors influence the intention to use AI chatbots. Key factors analysed include trust, performance expectancy, self-efficacy, perceived vulnerability, response efficacy, and response costs. These variables are evaluated to understand Generation Z ‘s intention to use in AI chatbot technologies in their personal financial planning. The study highlights barriers such as privacy concerns, confidentiality, and perceived threat severity are identified as critical challenges to intention to use AI chatbot. Moreover, quantitative approach was adopted using a structured questionnaire to collect data from 350 respondents within the target population. Statistical analysis was performed by using SMARTPLS 4.0 to assess the relationship between the identified factors and the overall intention of using an AI chatbot for financial management. The findings provide valuable insights for financial institutions to design and implement AI solutions that meet Gen Z’s unique preferences and expectations, increase user satisfaction, and foster continued usage intentions. Additionally, this research contributes to the academic understanding of AI chatbot intention in personal financial planning, addressing gaps in the application of PMT and UTAUT to this field and providing actionable recommendations for industry stakeholders. Keywords: AI Chatbots, Generation Z, Intention to Use, Personal Financial Planning, Protection Motivation Theory (PMT), Unified Theory of Acceptance and Use of Technology (UTAUT)

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