IMPACT OF ARTIFICIAL INTELLIGENCE ON BANKING SECTOR

Paper ID: EIJTEM_2026_13_1_82-92

Author's Name: Siva Hari Naga Shashank Varagani

Volume: 13

Issue: 1

Year: 2026

Page No: 82-92

Abstract:

The study's overarching goal is to ascertain how AI will change the banking industry. There has been a meteoric rise in the usage of AI in banking in the last several years, and this essay will attempt to weigh the pros and cons of that trend. An examination of the many applications of artificial intelligence (AI) in banking, including customer service, fraud detection, risk management, and investment analysis, follows an introduction to the field's evolution and background. Concerns about privacy, algorithmic biases, and the absence of human supervision are some of the ethical and regulatory issues covered in the article as they pertain to the application of AI in banking. This research paper summarizes the impact that artificial intelligence has had so far on the banking industry and how it has changed the game.

Keywords: Artificial Intelligence, Digital disruption, Banking sector.

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