Transforming Banking Services: Artificial Intelligence Impact on Customer Experience

Abstract

Monetary globalisation has enhanced the productivity of the banking sector, resulting in an unpredictable and risky financial environment. Banks are gradually adopting state-of-the-art technologies, such as artificial intelligence, to enhance customer experience and boost the quality of responses to consumer complaints. This study examines the critical role that the banking sector plays in the expansion of businesses, the application of AI banking practices, and the enhancements in customer service that result from investigating various AI applications, which include credit scoring, mobile banking, customer relationship management, and fraud detection.

This study illustrates how technology may boost financial stability by tackling shortcomings. AI integration raises operational competence and customer satisfaction and creditworthiness, both of which will ultimately result in economic development. The study's discussion highlights how artificial intelligence (AI) has the potential to completely alter the banking sector and how ongoing technological advancements are required to maintain the sector's adaptation and growth.