The project has made significant progress beyond the state of the art by pioneering the application of AR face-aging technology in the context of pension awareness and engagement. This novel approach has provided empirical evidence on AR's effectiveness in influencing pension-related behaviors, particularly through enhancing future self-imagery. The research uniquely integrates technology and behavioral science to address critical societal issues, exemplified by the real-world application through collaboration with APG, a major pension provider. This interdisciplinary approach has bridged the gap between academic research and industry practice in tackling financial planning challenges.
Expected results from the project include a comprehensive understanding of AR's impact on pension awareness and engagement across different age groups. The research is anticipated to refine theoretical frameworks explaining how future self-visualization affects financial planning behaviors. Additionally, it aims to produce practical guidelines for implementing AR-enhanced pension communications, which will be valuable for policymakers and pension fund managers. The project is also expected to yield high-quality academic publications in top-tier marketing and consumer behavior journals, contributing significantly to the scholarly discourse on technology-enhanced financial decision-making.
The potential impacts of this research are far-reaching. Socio-economically, it could lead to improved financial preparedness for retirement, potentially reducing elderly poverty rates and fostering more informed long-term financial decisions. Broader societal implications include influencing how financial institutions and governments communicate about long-term planning, potentially reducing the gender pension gap, and sparking discussions on using emerging technologies for societal challenges. The project may drive technological advancements in AR applications and inspire innovations in addressing abstract, future-oriented concepts across various fields. Policy implications could include informing pension communication strategies and influencing regulations on AR use in financial services. In the industry, it may lead to the adoption of new communication strategies in the financial sector and encourage further academia-industry collaborations. Overall, this project has the potential to transform approaches to long-term financial planning, leveraging cutting-edge technology to address critical socio-economic challenges, and influencing a wide range of stakeholders from individual consumers to policymakers and financial institutions.
