NAVIGATING THE TECHNOLOGICAL WAVE: CUSTOMER PERCEPTION ON AI IN BANKING SECTOR

Abstract

The banking industry has undergone a transformative journey, progressing from Banking 1.0, rooted in traditional and historical banking practices, to the era of Banking 4.0. This latest phase encompasses the integration of advanced technologies, notably the application of Artificial Intelligence (AI), across various facets of banking operations. To maintain relevance and a competitive edge, banks have actively embraced innovative and cutting-edge technologies. The present paper explores the key area of AI in banking and perception and understanding of customers on AI in banking sector. By employing a comprehensive analysis, including customer awareness, trust, and overall satisfaction with AI-driven services, the study seeks to provide valuable insights that can guide banking institutions in understanding and optimizing customer experiences amid this technological transformation. Through an exploration of perceptions, challenges, and recommendations, this paper underscores the significance of aligning AI implementations with customer expectations for sustainable growth in the banking industry.

Keywords: Banking, Artificial intelligence, Technologies, Customers, Sustainable growth