Artificial intelligence implementation in ukrainian banks: perspectives and limitations

Abstract

Methods. During the research, the method of scientific abstraction was applied – to define the concept of «artificial intelligence»; analysis and synthesis – when identifying the functional capabilities of artificial intelligence; comparison – to determine the level of use of artificial intelligence systems in Ukrainian banks. Results. The article examines the genesis of algorithms of generative artificial intelligence (AI) from the point of view of the prerequisites for its appearance, development and impact on economic and financial agents. It was determined that artificial intelligence is the main factor in revitalizing economic growth and a strategic advantage in the long term. The current state of implementation of AI tools in the activities of Ukrainian banks in comparison with foreign banks is analyzed. For further development, commercial banks are suggested to create joint projects with scientific institutions, technological companies regarding training and adaptation of models for clients of financial institutions and parallel implementation of algorithms in internal bank processes, including search, adaptation and development of personnel, marketing, internal information technologies and processes or in the event of sufficient financial resources, the creation of intra-bank divisions for the development of AI. The transition to innovative types of services will also require financial institutions to communicate properly with clients. Novelty. The level of use of artificial intelligence systems in Ukrainian banks was determined. According to the results of the study, it was determined that the key factor that negatively affects the introduction of new technologies is the high cost of investments in the preparation of models and the selection of teams. Other challenges relate to the regulation of relations with consumers of financial services and insufficient attention from the regulator. Practical value. Applied research results are focused on taking into account the specific positions and opportunities of the enterprise's competitive potential when evaluating the effectiveness of its innovative activities.