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Implementing artificial intelligence empowered financial advisory services: A literature review and critical research agenda
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Real Estate Business and Financial Systems.ORCID iD: 0000-0002-2903-9158
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management, Real Estate Business and Financial Systems.ORCID iD: 0000-0001-7559-4761
KTH, School of Architecture and the Built Environment (ABE), Real Estate and Construction Management.ORCID iD: 0000-0003-4394-4020
2024 (English)In: Journal of Business Research, ISSN 0148-2963, E-ISSN 1873-7978, Vol. 174, article id 114494Article in journal (Refereed) Published
Abstract [en]

Robo-advisors, also known as robo-advisory services, significantly reshape customer service in financial advisory industries, transforming retail investor markets by substituting human financial advisory experts with artificial intelligence empowered services. However, existing literature remains scattered across disciplines, with theories on financial customer service predominantly focused on Internet banking, neglecting artificial intelligence empowered interactions. Thus, service providers need a framework for implementing robo-advisors in frontline service and researchers require an advanced agenda to stimulate future research. Through a systematic, interdisciplinary literature review based on Belanche et al.’s service robot framework, this article contextualizes service robot theories into financial advisory services, synthesizing knowledge on artificial intelligence empowered customer service. We contribute to literature on service robots by contextualizing, refining, and extending the original framework by Belanche et al. and by developing a research agenda with critical perspectives. Moreover, the study yields practical and theoretical insights into artificial intelligence empowered financial advisory services.

Place, publisher, year, edition, pages
Elsevier BV , 2024. Vol. 174, article id 114494
Keywords [en]
Robo-advisor; FinTech; Service robot; Customer service; Innovation; Artificial intelligence
National Category
Business Administration
Identifiers
URN: urn:nbn:se:kth:diva-342324DOI: 10.1016/j.jbusres.2023.114494Scopus ID: 2-s2.0-85182626832OAI: oai:DiVA.org:kth-342324DiVA, id: diva2:1828030
Note

QC 20240116

Available from: 2024-01-15 Created: 2024-01-15 Last updated: 2024-01-31Bibliographically approved

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Zhu, HuiVigren, OlliSöderberg, Inga-Lill

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