Adopting robotics in downstream financial services : a study investigating bank customers' readiness, and potential barriers to adopt robotics technology
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- Master Thesis 
The financial sector is experiencing great challenges as the world enters the fourth industrial revolution. Changing customer preferences and new companies venturing into the financial sector are forcing banks to shift their focus from upstream to downstream. Traditional banks need to realize that their locus of competitive advantage lies with their customers, who are now demanding that banking services come to them. The purpose of this paper is to imply whether cognitive robotics could be the solution that allows banks to provide their services anywhere, anytime. The implementation of cognitive robotics in direct customer interaction will initiate an adoption process where customers will ultimately accept or reject the technology. This paper aims to identify the potential barriers that need to be overcome in order to successfully implement robotics, and add value to customers. Furthermore, the study aims to uncover whether these barriers differ across various levels of robot interaction. In an attempt to go beyond traditional constructs in the technology adoption literature, a conceptual model building on basic psychological components to predict adoption intentions will be proposed. The findings in this study give support to the conceptual model, and additionally provides clear evidence of differences in adoption barriers according to the level of robot interaction. Contrary to the majority of research on utilitarian based services, our findings suggest Enjoyment as the critical determinant of adoption intentions. The conclusions drawn from this study have major implications for banks intending to implement cognitive robotics in direct customer interactions.