Paper Details

Name: Prashant Patel & Ashok Jhawar
Country: India

Year: 2025
Volume: Volume No: 12, Issue No: 2, Year: 2025, (Specials issue-1)
Page Number: 111-119
DOI: https://doi.org/10.5281/zenodo.17839368

ABSTRACT
―Artificial Intelligence (AI) is transforming personal financial planning by offering advanced
risk management tools, enhanced decision-making capabilities, and greater user
customization. This study explores the impact of AI tools on individuals’ ability to identify
and assess financial risks compared to traditional methods. The research also investigates the
role of trust in AI-driven tools and its influence on their adoption and user satisfaction.
Primary data was collected from 150 respondents, categorized based on age, gender,
occupation, and experience with financial tools. Using two-way ANOVA without replication,
the hypotheses were statistically tested.
Results revealed no significant difference in the perception of AI tools' capability to assist
with understanding and accurately analyzing financial risks. Similarly, trust in AI-based tools
did not show a statistically significant correlation with user satisfaction or adoption levels,
although a weak trend toward higher satisfaction with increased trust was observed. These
findings suggest that while AI offers potential, its perceived effectiveness is not yet
distinctively superior in the public eye. The limited experience of respondents with AI tools
may have influenced the results.
This paper contributes to the ongoing discourse on AI integration in finance by providing
empirical data from Indian users. It highlights the necessity for greater awareness, trustbuilding, and education about AI applications in personal finance. The study calls for deeper
and more targeted research to examine long-term user behavior, perceptions, and actual
financial outcomes from AI-based planning tools.‖
Keywords: Improving Risk Management, Financial Planning, decision-making capabilities
etc.