AI in Banking: What Drives Generation Z to Adopt AI-Enabled Voice Assistants in Saudi Arabia?

The aim of this study is to examine the factors that drive Saudi Arabian Generation Z’s intention to use voice assistants (VAs) in banking. The Technology Acceptance Model (TAM) was extended by incorporating three additional constructs: subjective norms, which capture the social influence of close relationships, including family and friends; personal innovativeness, which reflects the openness to new technologies that is characteristic of Generation Z; and perceived trust, which addresses concerns related to security and reliability that are critical in financial contexts, thereby enhancing our understanding of this phenomenon among Generation Z. A survey of 292 Generation Z respondents was collected and structural equation modeling (SEM) was employed for data analysis. The findings of the study reveal that factors such as perceived usefulness, attitude, subjective norms, personal innovativeness, and perceived trust all have a significantly positive impact on Generation Z’s intention to use AI-enabled VAs in banking. Additionally, the results indicate that perceived usefulness is influenced by ease of use, while attitude is affected by ease of use, perceived usefulness, personal innovativeness, and trust. Despite the Saudi government’s support and initiatives for the development of the AI-fintech industry, there is still a lack of understanding about consumer behavioral intention toward AI-enabled VAs in Saudi Arabia and, particularly among Generation Z. This study contributes to the existing literature and provides valuable recommendations for policymakers and fintech service providers seeking to implement effective AI-enabled VAs that enrich consumers’ engagement and experience.