The dark sides of AI

Cheng, Xusen; Lin, Xiao; Shen, Xiao‐Liang; Zarifis, Alex; Mou, Jian

doi:10.1007/s12525-022-00531-5

Cited by 30 publications

(8 citation statements)

References 31 publications

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“…The special issue was organized by the Xusen Cheng, Xiao Lin, Xiao-Liang Shen, Alex Zarifis, and Jian Mou, who introduce the six papers in their separate preface. Starting with a view on the bright sides of AI, they state that "the dark sides of AI are receiving relatively little attention" and structure potential dark sides along the three perspectives of digitalization (individual, organizational, societal) to frame their special issue papers (Cheng et al, 2022). It is the merit of the guest editors that their conference track held at the Americas Conference on Information Systems (AMCIS) has offered a platform for promoting research in this direction and that they were successful in developing these selected papers during the peer review process at Electronic Markets.…”

Section: Articles Of Present Issuementioning

confidence: 99%

Electronic Markets on platform dualities

Alt

2022

Electron Markets

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Section: Articles Of Present Issuementioning

confidence: 99%

Electronic Markets on platform dualities

Alt

2022

Electron Markets

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“…Despite the benefits of FinTech, as with any form of technology, it is imperative to recognise the undoubtedly negative aspect of using technology in financial services, which can be referred to as the “dark side” of FinTech that presents threats to organisations, individuals and society (Alt, 2018; Anshari et al ., 2021; Bollaert et al ., 2021; Schwienbacher, 2019). From an organisational aspect, implementing financial technologies can negatively lead to high-frequency trading and concerns from the human workforce due to job losses (Cheng et al ., 2022). On the individual side, advances in FinTech have raised several questions about the personalisation of services (Gutierrez et al ., 2019; Xu et al ., 2019), techno-stress (Yeh et al ., 2020), exposure to financial frauds (Akomea-Frimpong et al ., 2019), threats to consumer privacy and security (Chang et al ., 2020), and loan default (Li et al ., 2021), which is expected to grow with the proliferation of algorithms used to extract and process consumer data.…”

Section: Introductionmentioning

confidence: 99%

The dark side of FinTech in financial services: a qualitative enquiry into FinTech developers’ perspective

Sampat

Mogaji

Nguyen

2023

IJBM

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Purpose FinTech offers numerous prospects for significant enhancements and fundamental changes in financial services. However, along with the myriad of benefits, it also has the potential to induce risks to individuals, organisations and society. This study focuses on understanding FinTech developers’ perspective of the dark side of FinTech.Design/methodology/approach This study conducted semi-structured interviews with 23 Nigerian FinTech developers using an exploratory, inductive methodology The data were transcribed and then thematically analysed using NVivo.Findings Three themes – customer vulnerability, technical inability and regulatory irresponsibility – arose from the thematic analysis. The poor existing technological infrastructure, data management challenges, limited access to data and smartphone adoption pose challenges to a speedy integration of FinTech in the country, making customers vulnerable. The lack of privacy control leads to ethical issues. The lack of skilled developers and the brain drain of good developers present additional obstacles to the development of FinTech in Nigeria.Research limitations/implications FinTech operation in a developing country differs from that in developed countries with better technological infrastructure and institutional acceptance. This study recognises that basic banking operations through FinTech are still not well adopted, necessitating the need to be more open-minded about the global practicalities of FinTech.Practical implications FinTech managers, banks and policymakers can ethically collect consumer data that can help influence customer credit decisions, product development and recommendations using the mobile app and transaction history. There should be strict penalties on FinTech for selling customers’ data, sending unsolicited messages or gaining unnecessary access to the customer’s contact list. FinTech can offer to educate consumers about their financial management skills.Originality/valueWhereas other studies have focused on the positive aspects of FinTech to understand client perceptions, this study offers new insights into the dark side of FinTech by analysing the viewpoints of FinTech developers. Furthermore, the study is based in Nigeria, an emerging economy adopting FinTech, adding a new dimension to the body of knowledge.

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“…Businesses and AI developers work tirelessly to enhance AI capabilities and applications to increase consumer adoption and trust in AI. These efforts are intended to increase the effectiveness of AI‐enabled business functions and simultaneously address consumer concerns regarding AI's dark side, including privacy and data security issues, algorithm bias, and manipulation (Cheng et al, 2022; Mogaji et al, 2020). These functional and ethical considerations are both crucial and detrimental to the development of AI and the consumer behavior field.…”

Section: Introductionmentioning

confidence: 99%

Artificial intelligence consumer behavior: A hybrid review and research agenda

Jain,

Wadhwani,

Eastman

2023

J of Consumer Behaviour

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The advancement of artificial intelligence (AI) technology and its applications has drastically transformed consumer behavior (CB). As consumers interact with these applications on multiple platforms and touchpoints, it becomes crucial to understand how these interactions affect consumer behavior and its components, including personality, attitude, engagement, decision‐making, and trust. The research on the relationship between artificial intelligence and consumer behavior (hereafter referred to as AI CB) revolves around these topics and has grown exponentially in recent years. A rigorous review is required to provide directions for future studies by comprehending the extensive literature, understanding research gaps, and identifying the future directions for scholarly work. This article aims to address this research gap by analyzing 107 AI CB articles using the bibliometric and framework‐based methodology to provide insights into publication trends, dominant theories, methods, antecedents, decisions, and outcomes in the AI CB literature. Most importantly, the review identifies clusters of research fronts and provides a thematic framework for current research. These clusters or themes relate to AI interaction with consumer behavior dimensions, including consumer acceptance and trust, consumer interaction and engagement, attitude and personality, decision‐making, and adoption. This thematic framework and TCM‐ADO analysis offer future research directions to advance theory development and have implications for industry and society.

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The dark sides of AI

Cited by 30 publications

References 31 publications

Electronic Markets on platform dualities

Electronic Markets on platform dualities

The dark side of FinTech in financial services: a qualitative enquiry into FinTech developers’ perspective

Artificial intelligence consumer behavior: A hybrid review and research agenda

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