Will AI-based robo-advisors ever prevail amongst Singaporean youths?

Abstract

As a renowned financial hub, Singapore has a dynamic financial landscape which provides ideal conditions for the growth of financial technologies. In our paper, we look at the usage of Artificial Intelligence in robo-advisors. We aim to (1) elucidate the impact of AI-based robo-advisor usage on the financial attitudes of Singaporean youths, (2) highlight the social structures and their effects on the adoption rate of AI-based robo-advisors among Singaporean youths, and (3) contribute to the discussion and conversations of the usage of AI in Singapore's financial sector. Combined with theories like Social Construction of Technology (SCoT) and Diffusion of Innovation Theory (DOI), our mixed-mode research study will elucidate a correlation between AI-based robo-advisor usage and financial attitudes of Singaporean youths and how social structures affect the choices of Singaporean youths in adopting this technology, potentially revealing relevant considerations for its future development.