There is considerable enthusiasm for the potential of artificial intelligence (AI) to improve financial well-being. Despite this enthusiasm, it is important to underscore AI's potential adverse effects on consumers' financial decisions. We introduce the AI-IMPACT model, a unifying theoretical framework for how AI can influence consumers' financial decisions. The model details how AI impacts the marketplace, affecting psychological processes and consumer traits core to financial decision-making (e.g., pain of payment, financial literacy). We use the AI-IMPACT model to illustrate one way AI can reduce financial well-being as its influence on the marketplace (e.g., facilitating biometric payment methods) decreases consumers' pain of payment, increasing spending. Lastly, we use the AI-IMPACT model to identify areas for future research at the intersection of AI and financial decision-making.

中文翻译：

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通过 AI-IMPACT 模型揭示人工智能对财务决策的不利影响


人们对人工智能 (AI) 改善金融福祉的潜力抱有极大的热情。尽管存在这种热情，但重要的是要强调人工智能对消费者财务决策的潜在不利影响。我们介绍了 AI-IMPACT 模型，这是一个关于人工智能如何影响消费者财务决策的统一理论框架。该模型详细介绍了人工智能如何影响市场，影响金融决策的核心心理过程和消费者特征（例如，支付的痛苦、金融知识）。我们使用 AI-IMPACT 模型来说明人工智能降低财务福祉的一种方式，因为它对市场的影响（例如，促进生物识别支付方法）减少了消费者的支付痛苦，增加了支出。最后，我们使用 AI-IMPACT 模型来确定人工智能和金融决策交叉点的未来研究领域。