The adoption of conversational assistants in the banking industry: is the perceived risk a moderator?

The world has noticed tremendous growth in information technology, particularly the Internet of Things and artificial intelligence. Nowadays, a lot of people rely on conversational assistants (CAs) and other intelligent virtual objects to check account balances, communicate more quickly, make payments, and manage their financial assets with banks or other financial institutions. This study scrutinizes how consumers espouse and utilize conversational assistants in banking amenities. To provide empirical evidence and generalize sample results in a larger context, a quantitative research approach has been utilized. A structured questionnaire was prepared, which generates 181 participants. The questionnaire was selected for its suitability in systematically capturing consumers' perceptions and intentions. According to the findings of partial least square structural equation modeling (PLS-SEM), perceived ease of use (PEOU), perceived enjoyment (PE), and perceived trust (PT) have significant impacts on users' intentions to use conversational assistants, however, perceived usefulness (PU) does not have any significant effects. Furthermore, the relationship between PEOU and intention is significantly and negatively moderated by perceived risk (PR). By enabling stakeholders to create strategies that improve customer experience and unleash the full potential of conversational assistants in banking services, these findings help to better understand consumer behavior.