Artificial intelligence in personal financial management: Evidence from an emerging market

TRAN MINH LY NA

University of Economics Ho Chi Minh City

CAO DUC VUONG

Industrial University of Ho Chi Minh City

Email (corresponding author): [email protected]

MAI TU TU, LE THUY THU UYEN

MAI LE MINH THU, DAO THANH THUONG

University of Economics Ho Chi Minh City

Abstract

This study examines the determinants of artificial intelligence (AI) adoption in personal financial management (PFM). The study uses survey data from 338 individuals in Ho Chi Minh City collected between October 2024 and January 2025. The empirical model is estimated using partial least squares structural equation modeling (PLS-SEM) with reflective measurement and bootstrapping (5,000 resamples). The results show that subjective norms have the strongest effect on intention to use AI in PFM (β = 0.538, p < 0.01), followed by attitude toward AI (β = 0.174, p < 0.01). Perceived risk significantly affects attitude (β = 0.506, p < 0.01), while performance expectancy and perceived ease of use also have positive effects on attitude. In contrast, facilitating conditions, financial literacy, and perceived usefulness are not statistically significant. The model explains approximately 41% of the variance in both attitude and intention. This study contributes to the literature by providing empirical evidence on AI adoption behavior in personal finance in an emerging market context and offers implications for fintech firms in designing AI-based financial services and user adoption strategies.

Keywords: Intelligence, personal financial management, technology adoption, PLS-SEM, emerging market

(The article was published in the Vietnam Economic & Financial Review, Vol. 2, Issue 4, August 2026).

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