Ai robo-advisor anthropomorphism: The impact of anthropomorphic appeals and regulatory focus on investment behaviors

Building on anthropomorphism and regulatory focus theories, this research examines the effect of humanizing artificial intelligence (AI)-powered robo-advisors on investment behaviors. Across three experimental studies, the authors find that when financial service marketers design robo-advisors to resemble humans rather than machines, prevention-focused consumers are motivated to invest more money. However, this effect disappears among promotion-focused consumers. Perceived certainty of investment advice is shown to mediate the interactive effect of robo-advisor anthropomorphism and regulatory focus. Theoretical insights and practical implications for using robo-advisors in financial service marketing strategies are discussed.