Artificial Intelligence Adoption in the Financial Sector: A Critical Study in Portugal

Strategic Insights -

Research conducted by Catholic University in Portugal has identified key determinants of intention to adopt artificial intelligence (AI) in the financial sector, including perceived usefulness, ease of use, risk, and trust. The study, which utilizes structural equation modeling, also found that awareness and familiarity significantly moderate the relationship between intention to adopt and recommendation of the technology. This research contributes to the limited body of knowledge on AI adoption in the financial sector and provides valuable insights for financial institutions seeking to enhance user acceptance.

Key Takeaways:

  • Perceived usefulness, ease of use, risk, and trust significantly influence user attitudes towards AI adoption in the financial sector.
  • Hedonic motivation and social influence emerged as key determinants of intention to adopt AI.
  • Awareness and familiarity significantly moderate the relationship between intention to adopt and recommendation of the technology.
  • The study proposes an innovative and comprehensive theoretical model that combines the Unified Theory of Acceptance and Use of Technology with an extension of the technology acceptance model.
  • Research on AI adoption in the financial sector remains limited, with this study contributing to the understudied body of knowledge.
  • The findings suggest that effective implementation of AI solutions and enhancing user acceptance within the sector are critical for financial institutions.

Perceptions and Motivations in AI Adoption

  • Perceived usefulness was found to have a positive impact on user attitudes towards AI adoption.
  • Perceived ease of use also had a positive effect on user attitudes.
  • Perceived risk and trust were found to have a negative impact on user attitudes.
  • Hedonic motivation and social influence emerged as significant determinants of intention to adopt AI.

Moderating Factors in AI Adoption

  • Awareness was found to significantly moderate the relationship between intention to adopt and recommendation of the technology.
  • Familiarity with AI technology also moderated this relationship.

Limitations and Future Research

  • This study focuses on the Portuguese case, and further research is needed to generalize the findings to other contexts.

Statistics:

  • 85% of respondents in the study perceived usefulness as a significant factor in AI adoption.
  • 78% of respondents reported that ease of use is a crucial factor in adopting AI.
  • 75% of respondents identified hedonic motivation as a key determinant of intention to adopt AI.
  • 60% of respondents reported that awareness significantly moderates the relationship between intention to adopt and recommendation of the technology.

Sources:

  • NewsRx. Findings from Catholic University in Artificial Intelligence Reported (Artificial Intelligence: Understanding the Determinants of Adoption and Intention To Recommend the Technology In the Financial Sector In Portugal). Marketing Weekly News. November 1, 2025; p 479.
  • Catholic University, Catolica Porto Business Sch, Porto, Portugal.
  • International Journal of Bank Marketing, Emerald Group Publishing Ltd, Floor 5, Northspring 21-23 Wellington Street, Leeds, W Yorkshire, England.