Impact of Artificial Intelligence towards customer relationship in Indian banking industry

Abstract

The most significant & ground-breaking innovations in the banking industry is the growing emphasis on the needs of the consumer. Consumers that are technically knowledgeable and regularly interact with cutting-edge innovations want banks to provide smooth experiences. For operations like digital money, e-banking, and real cash transfers, financial institutions have extended their industrial landscape to include retail, IT, and telecom in order to meet these requirements. While these developments have made it possible for consumers to reach the majority of banking services at anytime, anywhere, they have also come at a cost to the financial sector. This study also sheds light on the advantages and disadvantages of adopting AI technology in the Indian banking sector. This study is of descriptive nature which describes the usage of artificial intelligence in banking services and the effect on relationship with customer. Data was collected from total 187 customers of Delhi of public and private sector banks using Questionnaire.