Meike Zehnle
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Item type:Publication, Breaking New Ground: LLMs as Catalysts in Consumer Financial Decision-Making Research(2024-09-04)This paper introduces a novel framework for leveraging Large Language Models (LLMs) to transform consumer financial decision-making research. By bridging AI and financial decision making literature, it maps Generative Artificial Intelligence (GenAI) capabilities to key research challenges, revealing promising new avenues for future investigations. The framework positions GenAI as a powerful tool for overcoming persistent obstacles in studying dispersed populations, capturing long-term behaviors, and navigating ethical concerns. While acknowledging current GenAI limitations, this work argues that the strategic integration of AI could unlock unprecedented insights, potentially reshaping our approach to financial behavior research.Type:working paper