Cultural relativity in consumers' rates of adoption of artificial intelligence

Artificial intelligence (AI) is a cost-efficient innovation that challenges customers' consumption patterns and fears of uncertainty. This study assesses whether the likelihood consumers adopt AI in banking services depends on tastes across different cultures. We propose culturally-augmented Arrow–Bilir–Sorensen model to assess propensity use AI. Analyses unique ING Bank dataset encompassing 11,000 respondents from 11 countries reveal success rates for diffusion robo-advisory financial retail vary substantially due cultural boundedness choice. bias seems be associated with social capital rather than fear novelty.