Between Innovation and Caution: How Consumers’ Risk Perception Shapes AI Product Decisions

While artificial intelligence (AI)-integrated products continue to surge in the market, research on effectively marketing these products remains scarce. Notably, the emergence of generative AI products has both astonished consumers and prompted businesses to accelerate AI adoption. Yet, for many, AI remains an early adopter’s domain. Our study highlights a potential barrier: the varied risk perceptions (RPs) that consumers associate with AI products. This overlooked aspect—coupled with potential risks AI products might present—can significantly diminish consumer trust. To delve into this issue, we utilized the technology acceptance model and diffusion of innovation theory to investigate the influence of RP on AI product purchase intentions. We gathered insights from 344 adults in the United States through an online survey, exploring their multifaceted RPs about generative AI products. Our findings suggest that RP indirectly curtails the willingness to buy AI products, influenced by factors such as product attitudes, perceived utility, and ease of use. Intriguingly, the impact of RP is modulated by an individual’s innovativeness level, reflecting their life and consumption patterns. This research enhances our understanding of the intricate interplay of consumer RP, technology acceptance, and product perceptions within the AI product purchase landscape.