ROLE OF ARTIFICIAL INTELLIGENCE IN BANKING SECTOR
DOI:
https://doi.org/10.7492/pdwtbs45Keywords:
Artificial Intelligence, Front-end Banking AI, Personalized Financial ServicesAbstract
Banks are financial institutions that play a major role in the flow and movement of credit within the country. It plays an important role in enhancing economic activities by streamlining the business and commercial process with revenue generation and distribution. In the present times, the banks are using advanced technology like Artificial Intelligence (AI) so that there is an increase in the efficacy of the banks and they could provide quality services to the customers. Since more and more individuals are using e-commerce and digital platforms, it is imperative for the banks to introduce advanced technology-based applications so that enriched services could be provided to the customers. Artificial intelligence is the replication of human intelligence that helps in the development of better computers that can do human tasks in an intellectual manner. Artificial intelligence focuses on making computers work human-like but in a more efficient and convenient way. This research paper aims to discuss the variables of artificial intelligence that can be adopted or applied in the banking sector, specifically customer-centric or end-user AI functionalities in banking services.
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