智能投顾的接受度研究——基于用户采纳意愿的视角

Research on the Acceptance of Intelligent Financial Advisors—From the Perspective of User Adoption Intention

摘要: 随着金融科技的快速发展，智能投顾(Robo-Advisory)作为一种基于算法和模型驱动的自动化投资咨询服务，正在迅速崛起并改变传统投资顾问的服务模式。尽管智能投顾在技术层面日趋成熟，其在用户端的接受度却呈现出明显的差异。本研究以“用户采纳意愿”为切入点，探讨影响用户接受智能投顾的关键因素。基于技术接受模型(TAM)、创新扩散理论(IDT)和社会认知理论(SCT)等经典理论，构建了智能投顾用户接受度的理论模型，并通过问卷调查收集357份有效样本进行实证分析。研究发现，个人创新意识、社交影响、感知有用性、感知易用性、感知趣味性和感知价值均对采纳意愿具有显著正向影响，而感知成本和感知风险则对采纳意愿具有显著负向影响。研究结果不仅验证了传统理论在中国市场环境下的适用性，也拓展了智能投顾领域的理论研究视角。

Abstract: With the rapid development of fintech, Robo-Advisory, as an automated investment consulting service based on algorithms and model-driven approaches, is rapidly rising and transforming the traditional service model of investment advisors. Although robo-advisors are becoming increasingly mature in terms of technology, there are obvious differences in their acceptance among users. This study takes “user adoption willingness” as the entry point to explore the key factors influencing users’ acceptance of intelligent investment advice. Based on classic theories such as the Technology Acceptance Model (TAM), the Innovation Diffusion Theory (IDT), and the Social Cognition Theory (SCT), a theoretical model for the acceptance of intelligent investment advisory users was constructed, and 357 valid samples were collected through questionnaire surveys for empirical analysis. Research findings show that personal innovation awareness, social influence, perceived usefulness, perceived ease of use, perceived interest and perceived value all have a significant positive impact on the willingness to adopt, while perceived cost and perceived risk have a significant negative impact on the willingness to adopt. The research results not only verify the applicability of traditional theories in the Chinese market environment, but also expand the theoretical research perspective in the field of robo-advisory.