Exploring Immigrants' Perceptions of AI-Powered Financial Literacy Initiatives: A Mixed Methods Study in Finland
Sihlophe, Nkosinathi (2024)
2024
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024072224000
https://urn.fi/URN:NBN:fi:amk-2024072224000
Tiivistelmä
Financial literacy is increasingly recognised globally as a core life skill essential for both individual empowerment and societal financial well-being in the 21st century. As nations work to equip their citizens with the knowledge to navigate complex financial systems, innovative approaches leveraging technology are also being explored. Artificial intelligence (AI) has emerged as a promising tool for personalising learning experiences, increasing engagement, and improving outcomes.
In Finland, a country renowned for its commitment to education and technological innovation, the pursuit of financial literacy becomes particularly significant. The Bank of Finland aims to position the country as a leader in this field by 2030, making it crucial to explore novel strategies to empower all segments of society. Among these segments are immigrant populations with unique needs and challenges that must be addressed.
This study investigates how AI-powered financial literacy initiatives are perceived by immigrants in Finland, examining their perceived benefits and concerns.
Findings reveal varied perceptions of AI-powered initiatives, influenced by educational background and age. Participants with higher education levels generally viewed AI tools positively, appreciating their personalised learning features, but some expressed concerns about effectiveness and data privacy. Younger, more educated immigrants were generally enthusiastic about AI tools, while older participants preferred traditional methods due to concerns about cultural adaptability and privacy.
The research highlights both barriers and opportunities in using AI technologies to enhance financial literacy and suggests that addressing these challenges is crucial for developing inclusive and effective AI-powered initiatives that support the financial well-being of immigrant communities.
In Finland, a country renowned for its commitment to education and technological innovation, the pursuit of financial literacy becomes particularly significant. The Bank of Finland aims to position the country as a leader in this field by 2030, making it crucial to explore novel strategies to empower all segments of society. Among these segments are immigrant populations with unique needs and challenges that must be addressed.
This study investigates how AI-powered financial literacy initiatives are perceived by immigrants in Finland, examining their perceived benefits and concerns.
Findings reveal varied perceptions of AI-powered initiatives, influenced by educational background and age. Participants with higher education levels generally viewed AI tools positively, appreciating their personalised learning features, but some expressed concerns about effectiveness and data privacy. Younger, more educated immigrants were generally enthusiastic about AI tools, while older participants preferred traditional methods due to concerns about cultural adaptability and privacy.
The research highlights both barriers and opportunities in using AI technologies to enhance financial literacy and suggests that addressing these challenges is crucial for developing inclusive and effective AI-powered initiatives that support the financial well-being of immigrant communities.