Role Of Artificial Intelligence In Transforming Customer Experience In Digital Banking

Abstract

Artificial Intelligence (AI) is one of the key technologies that support the need for faster, more convenient, and personalized digital banking services. This paper aims to examine the role of artificial intelligence in customer experience transformation in the digital banking sector through an in-depth descriptive and analytical study. The current research highlights the impact of AI-enabled services on customer experience, the influence of AI-driven personalization on customer satisfaction, and the challenges of using AI-enabled services in digital banking. The research method consisted of a descriptive and analytical study that used a questionnaire to collect the necessary data from 200 digital banking customers. The data analysis was performed using descriptive statistics, the Chi-Square test, and One-way ANOVA. The results of the study reveal that AI-enabled digital banking services play a significant role in customer experience transformation by providing convenience, speed, and responsiveness. At the same time, personalization of digital banking services using AI leads to higher customer satisfaction rates by offering each customer individually-oriented services and recommendations. However, the study also found that the use of AI-enabled digital services poses several challenges to the customers, including privacy and security concerns, technical limitations, skepticism, and reduced human interaction. Therefore, the current study recommends that banks should invest in AI technologies to improve customer experience and satisfaction by providing personalized services while ensuring security, transparency, and human interaction...