AI tolerance of financial consumers

Consumers of financial services exhibit conflicting and often irrational attitudes toward the adoption of artificial intelligence (AI) in the management of financial institutions. This study aims to assess consumer tolerance for AI by analyzing and comparing existing research on the topic globally. For instance, it has been found that European consumers express significant concern regarding the ethical use of AI and the transparency of algorithms, whereas American consumers demonstrate considerably higher tolerance for AI, particularly among Generation Z. Globally, there is growing interest in the benefits of AI, but also heightened concern about associated risks such as cyberattacks, data security, job loss, market manipulation, and more. Identifying regional specifics in consumer attitudes could make the global integration of AI into the financial sector more efficient and better aligned with the expectations of various markets.