Artificial Intelligence and Its Impact on Banking Systems
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My research focuses on the impact on banking systems caused by artificial intelligence. This research emphasizes many things such as governance, customer service, employment, operational efficacy, risk management and fraud detection. Using a qualitative secondary-research methodology, this research uses evidence extracted from regulatory and institutional publications. The results show that AI can analyze data related to this field, help in finding out suspicious financial activities, accomplish repetitive processes and provide fast digital assistance. On the other hand, AI causes many issues such as cybersecurity, privacy, biases, reliability, workforce transformation and clear explanations. As a conclusion of this study, AI and human resources should go hand in hand in this field with human effort in employee training, governance, oversight and supervision and compliance. Further researches should use banking level data to measure the financial and operation level of effective and efficiency of AI integration.
Keywords
Artificial Intelligence (AI), Banking systems, Customer Service, Employment, Fraud Detection, Risk Management