EFFECTS OF AI-DRIVEN FINANCIAL LITERACY CHATBOT ON FINANCIAL MANAGEMENT SKILLS OF HOME ECONOMICS STUDENTS IN FEDERAL UNIVERSITY OF EDUCATION, ZARIA, NIGERIA

Abstract

This study investigated the effects of AI-driven financial literacy chatbot on financial management skills of Home Economics students in Federal University of Education, Zaria, Nigeria. The increasing complexity of financial markets and products necessitates innovative educational tools to equip young adults with essential financial competencies. A quasi-experimental, pre-test/post-test, non-equivalent control group design was adopted for the study. The population comprised all undergraduate Home Economics students, from which a sample of 120 students was selected using a purposive sampling technique and randomly assigned to an experimental group (n=60) and a control group (n=60). The instrument for data collection was a validated researcher-developed "Financial Management Skills Questionnaire" (FMSQ) with a Cronbach's alpha reliability coefficient of 0.88. The experimental group interacted with a specially designed AI chatbot ("FinPAL") for six weeks, while the control group received no treatment. Data were analyzed using mean, standard deviation, and Analysis of Covariance (ANCOVA). The findings revealed a significant positive effect of the AI-driven chatbot on students' financial management skills. The experimental group showed a statistically significant improvement in their post-test scores compared to their pre-test scores and also scored significantly higher than the control group in the post-test. The study concludes that AI-driven chatbots are effective tools for enhancing financial literacy and management skills among university students. It is recommended, among others, that tertiary institutions integrate AI-based learning tools into their curriculum to promote practical financial education.