International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

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Volume 8 Issue 3
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The Role of Artificial Intelligence in Banking Sector

Author(s) Ms. Dhyuti Tyagi
Country India
Abstract The rapid advancement of Artificial Intelligence (AI) has significantly reshaped the banking sector by enhancing service delivery, improving security and increasing operational efficiency. This study explores the role of AI in banking particularly in areas such as customer experience, fraud detection and the growth of FinTech services. A descriptive & analytical research design was adopted, using both primary and secondary data sources. Primary data was collected through a structured questionnaire from 50 respondents selected through convenience sampling from urban and semi-urban areas. The data was analyzed using percentage analysis and graphical tools.
The results indicate that AI adoption in banking is widely recognized and accepted among customers. A large majority of respondents are aware of banking services, while 94% are familiar with AI and actively use digital banking platforms. About 88% of respondents consider AI important in banking operations and 78% feel secure while using AI-enabled services. Interaction with AI tools such as chat bots and virtual assistants is also notable though awareness and usage of FinTech services remain comparatively lower. Furthermore, 64% of respondents believe that AI helps in reducing human errors and most respondents agree that it plays a crucial role in fraud detection and prevention.
The study concludes that AI has brought substantial improvements in banking by making services faster, more accurate and customer-friendly. It has also strengthened fraud prevention systems and increased customer trust. However, there is still a need to enhance awareness and adoption of advanced FinTech services. Overall, AI continues to play a transformative role in modern banking and its effective implementation will be key to future growth and innovation in the banking sector.
Keywords Artificial Intelligence, Banking Sector, Customer Experience, Fraud Detection, FinTech
Published In Volume 8, Issue 3, May-June 2026
Published On 2026-05-09
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E-ISSN 2582-2160
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