PERSPECTIVE OF USERS IN ACCEPTING AI DECISIONS WHILE MENAGING PERSONAL FINANCE AND BUDGETING

Abstract

This research project examines the perspectives of users in accepting AI decisions related to personal finance and budgeting from an Indian perspective. The research question explores the socio-demographic factors that influence user acceptance of AI decisions when it comes to managing personal finance and budgeting. In order to answer this research question, a literature review was conducted to gain an understanding of the existing research in the area. The review covered literature on technological acceptance models, user perspectives on AI decisions, and AI-based finance management tools. The study aims to investigate the potential benefits and challenges associated with AI-based management tools and the socio-demographic factors that can influence user acceptance of AI decisions. To answer the research question, the study utilized survey methods and the chi-square method. The survey was applied to a sample of 100+ Indians between the ages of 18 and 50. The survey consisted of questions related to socio-demographic characteristics, attitudes towards AI decisions, and perceived benefits and challenges of using AI for personal finance and budgeting. The data collected from the survey were then analyzed to gain insights into the perspectives of Indian users on acceptance of AI decisions when it comes to managing personal finance and budgeting. The analysis indicated that attitudes towards AI decisions vary depending on socio-demographic characteristics. Furthermore, the analysis showed that Indian users generally view AI-based decision-making as beneficial, though some reservations still exist.