Citation

Kamarzaman, Nurul Naqiah Hanny (2025) Adoption of artificial intelligence in financial planning services among working adults in Malaysia. Masters thesis, Multimedia University.

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Abstract

This study investigates the factors influencing the adoption of Artificial Intelligence (AI) in financial planning services among working adults in Malaysia, guided by the Technology Acceptance Model (TAM) and its extended framework. With the rise of AI-driven solutions such as Robo-advisors, the financial services sector is undergoing a significant transformation. These AI platforms offer personalised investment advice and automated financial management, providing an alternative to traditional financial advisory methods. This research focuses on key independent variables, perceived usefulness, perceived ease of use, financial literacy, digital financial literacy, perceived financial risk and perceived security, to understand their impact on the adoption of these AI-powered financial tools. A quantitative approach was employed, utilising a structured questionnaire distributed to 205 working adults in Malaysia. Data were analysed using multiple linear regression analysis via SPSS. The analysis revealed that perceived usefulness and perceived ease of use, financial literacy and perceived security to have a significant positive influence on user attitude and intention to adopt these AI tools. Conversely, digital financial literacy and perceived financial risk were found to have no significant impact on AI adoption. In addition, users’ attitude were found to strongly mediate the relationship between these variables and their intention to adopt AI tools. Correlation analysis showed a moderate relationship between financial literacy and adoption behaviour. Despite a moderate level of financial knowledge, the findings suggest that user are increasingly aware and open to adopting AI-based financial tools, particularly among younger and more educated demographics. Interestingly, although perceived financial was not statistically significant, it exhibited a weak positive correlation, suggesting that user may cautiously adopt AI if they are aware of the associated risks. This study contributes to the understanding of the factors affecting user behaviour towards the adoption of AI-driven digital tools, offering valuable insights for institutions and policymakers to improve user acceptance by addressing risks and concerns.

Item Type:	Thesis (Masters)
Additional Information:	Call No.: HG4515.5 .N87 2025
Uncontrolled Keywords:	Artificial intelligence—Financial applications
Subjects:	H Social Sciences > HG Finance > HG4501-6051 Investment, capital formation, speculation
Divisions:	Faculty of Management (FOM)
Depositing User:	Ms Nurul Iqtiani Ahmad
Date Deposited:	22 Sep 2025 03:31
Last Modified:	22 Sep 2025 03:31
URII:	http://shdl.mmu.edu.my/id/eprint/14500

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