THE ROLE OF ARTIFICIAL INTELLIGENCE IN ENHANCING DIGITAL BANKING SERVICES

Mamadiyarov, Zokir (2024) THE ROLE OF ARTIFICIAL INTELLIGENCE IN ENHANCING DIGITAL BANKING SERVICES. American Journal of Modern World Sciences, 1 (1). pp. 66-77.

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Abstract

This paper explores the role of artificial intelligence (AI) in enhancing digital banking services, focusing on its transformative potential to improve customer experiences, streamline operations, and mitigate risks in the banking sector. As financial institutions increasingly adopt digital technologies to meet evolving consumer demands, AI emerges as a key driver of innovation, enabling banks to provide personalized services, enhance security measures, and optimize decision-making processes. The study employs a mixed-methods approach, combining quantitative data analysis of AI adoption rates and its impact on banking performance with qualitative insights from interviews with banking professionals, technology experts, and customers. The findings reveal that AI applications, such as chatbots, predictive analytics, and fraud detection systems, significantly enhance operational efficiency and customer satisfaction. Furthermore, the research highlights the challenges associated with AI implementation, including data privacy concerns, regulatory compliance, and the need for continuous skill development among banking personnel. The paper concludes with recommendations for financial institutions to effectively leverage AI technologies, fostering a culture of innovation and ensuring the sustainability of digital banking services in an increasingly competitive landscape. By embracing AI, banks can enhance their service offerings,

Item Type:	Article
Subjects:	H Social Sciences > HG Finance
Divisions:	Postgraduate > Master's of Management
Depositing User:	Journal Editor
Date Deposited:	16 Oct 2024 07:35
Last Modified:	16 Oct 2024 07:35
URI:	http://eprints.umsida.ac.id/id/eprint/14283

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