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VOL. 10, ISSUE 4 (2024)
Impacts of artificial intelligence implementation in the banking industry
Authors
K Visvanathan
Abstract
This study explores the role of artificial intelligence (AI) in
Namakkal's banking and financial services sector, focusing on customer responses
and AI adoption by banks. By analyzing financial transaction data from digital
payments, banks can enhance their ability to track, predict, and respond to
client behavior. Primary data was collected through a questionnaire distributed
to current bank clients in Namakkal, while secondary data came from books,
academic papers, and popular publications on AI in banking. The study concludes
that, despite some customer dissatisfaction, AI services implemented by
privately held banks and financial institutions are significantly improving
customer satisfaction. The findings suggest that customers should expect
increased engagement from bank staff, who will spearhead innovative AI
practices and contribute to the potential expansion of AI within the industry.
The study underscores the importance of AI in enhancing customer service and
encourages ongoing development and adoption of AI technologies in banking.
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Pages:94-97
How to cite this article:
K Visvanathan "Impacts of artificial intelligence implementation in the banking industry". International Journal of Commerce and Management Research, Vol 10, Issue 4, 2024, Pages 94-97
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