New Product Development Research Articles

Modeling Sales of Multigeneration Technology Products in the Presence of Frequent Repeat Purchases: A Fractional Calculus-Based Approach

Frequently releasing a new product generation has become a common practice to sustain sales over time, thus accurately forecasting the sales trajectory of each product generation plays a vital role in the short-, medium-, and long-term planning of a firm. Classic multigeneration diffusion models do not incorporate within-generation repeat purchases, making them unusable for product lines with high rates of such purchases. Concentrating on technology products, we develop a multigeneration sales model to fill this void. We demonstrate that the new model can be used for predictive and prescriptive analytics. Our empirical results show that the new model estimates and forecasts sales more accurately than a state-of-the-art benchmark model that does not account for within-generation repeat purchases, underscoring the importance of incorporating repeat purchases. Furthermore, we use two different versions of our model to examine market entry timing under two main strategies, that is, (i) a phase-out transition strategy in which firms continue to sell the old generation after the release of the new generation, and (ii) a total transition strategy in which firms discontinue the old generation after the introduction of the new generation. Our results indicate that the repeat purchases rate determines whether it is optimal to expedite or delay the new product launch, underscoring the importance of incorporating repeat purchases in market entry strategies.

Accuracy of and preferences for blood-based versus oral-fluid-based HIV self-testing in Malawi: a cross-sectional study

BackgroundHIV self-testing (HIVST) can use either oral-fluid or blood-based tests. Studies have shown strong preferences for self-testing compared to facility-based services. Despite availability of low-cost blood-based HIVST options, to date, HIVST implementation in sub-Saharan Africa has largely been oral-fluid-based. We investigated whether users preferred blood-based (i.e. using blood sample derived from a finger prick) or oral fluid-based HIVST in rural and urban Malawi.MethodsAt clinics providing HIV testing services (n = 2 urban; n = 2 rural), participants completed a semi-structured questionnaire capturing sociodemographic data before choosing to test using oral-fluid-based HVST, blood-based HIVST or provider-delivered testing. They also completed a self-administered questionnaire afterwards, followed by a confirmatory test using the national algorithm then appropriate referral. We used simple and multivariable logistic regression to identify factors associated with preference for oral-fluid or blood-based HIVST.ResultsJuly to October 2018, N = 691 participants enrolled in this study. Given the choice, 98.4% (680/691) selected HIVST over provider-delivered testing. Of 680 opting for HIVST, 416 (61.2%) chose oral-fluid-based HIVST, 264 (38.8%) chose blood-based HIVST and 99.1% (674/680) reported their results appropriately. Self-testers who opted for blood-based HIVST were more likely to be male (50.3% men vs. 29.6% women, p < 0.001), attending an urban facility (43% urban vs. 34.6% rural, p = 0.025) and regular salary-earners (49.5% regular vs. 36.8% non-regular, p = 0.012). After adjustment, only sex was found to be associated with choice of self-test (adjusted OR 0.43 (95%CI: 0.3–0.61); p-value < 0.001). Among 264 reporting blood-based HIVST results, 11 (4.2%) were HIV-positive. Blood-based HIVST had sensitivity of 100% (95% CI: 71.5–100%) and specificity of 99.6% (95% CI: 97.6–100%), with 20 (7.6%) invalid results. Among 416 reporting oral-fluid-based HIVST results 18 (4.3%) were HIV-positive. Oral-fluid-based HIVST had sensitivity of 88.9% (95% CI: 65.3–98.6%) and specificity of 98.7% (95% CI: 97.1–99.6%), with no invalid results.ConclusionsOffering both blood-based and oral-fluid-based HIVST resulted in high uptake when compared directly with provider-delivered testing. Both types of self-testing achieved high accuracy among users provided with a pre-test demonstration beforehand. Policymakers and donors need to adequately plan and budget for the sensitisation and support needed to optimise the introduction of new quality-assured blood-based HIVST products.

Balanced or imbalanced, that is the question: The effect of R&D/marketing power structure on new product development time

Accelerating new product development (NPD) to gain a first-mover advantage is crucial in today's competitive business landscape. This paper aims to examine the effective power structure in NPD projects through the lens of two divergent theoretical perspectives: Information Processing Theory (IPT) and Resource Dependence Theory (RDT). While IPT suggests the benefit of a balanced decision-making power among various subunits, RDT advocates for a concentrated decision power for faster consensus and efficiency. Our research specifically investigates whether a balanced or imbalanced R&D/marketing power structure is more conducive to accelerating NPD time. This focus stems from the recognition that the interplay between R&D and marketing is critical in shaping NPD outcomes, though we acknowledge the broader context of multifunctional collaboration in NPD, including aspects like manufacturing. The paper tests two competing hypotheses: one advocating a balanced R&D/marketing power structure as per IPT, and the other supporting a dominant R&D/marketing power structure in line with RDT. We surveyed project leaders, R&D, and marketing personnel from 126 NPD projects across 87 Taiwanese firms. The empirical results significantly endorse the balanced R&D/marketing power structure hypothesis, suggesting that a harmonious collaboration between these two key subunits can expedite NPD processes. Our findings contribute to both academic research and managerial practice by offering nuanced insights into optimizing power structures within NPD teams, particularly highlighting the efficacy of a balanced R&D/marketing approach in the context of the prevalent theories.

A study on two‐dimensional warranty with a preventive maintenance policy under burn‐in or run‐in

AbstractProducts are often offered with warranties, which have become a common marketing strategy intended to indicate that product quality is guaranteed by the firm. Warranties can attract consumer purchases, but they also incur warranty costs, especially when firms falsely claim that their products are high quality; therefore, the determination of an appropriate warranty policy is of particular importance. This study considers a two‐dimensional warranty for complex repairable products, such as a vehicle, a lathe, or industrial machinery, with consideration of (1) burn‐in (run‐in), which is a supervised accelerating testing process performed before product launch to prevent defective products from being sold on the market, and (2) periodic preventive maintenance, which is performed during the usage period to prevent the occurrence of unexpected failures under normal usage conditions. The optimal burn‐in (run‐in) time and preventive maintenance intervals are determined with the aim of minimizing warranty costs for firms. The results of the study show that given a higher repair cost and a greater infant mortality failure rate, more frequent preventive maintenance is preferable, and the repair cost has the largest effect on the total warranty cost for the firm.

THE ACTIVITIES OF INSURANCE COMPANIES UNDER MARTIAL LAW AND THEIR ROLE IN THE POST-WAR RECOVERY OF UKRAINE

The article analyzes the current state of activity of insurance companies, which is formed under the influence of crisis trends of recent years: the Covid-19 pandemic and quarantine restrictions, a full-scale invasion of the russian federation and mass damage. The extent of the damage to the Ukraine’s economy and the needs for recovery have been analyzed, which will include special support and mobilization of the private sector, as well as necessary costs for the recovery of housing, social infrastructure, energy and transport. It is noted that the downward changes in the number of companies do not have a negative impact on the quality of services provided and the penetration of the insurance market, as these trends may indicate changes in the insurance market and its adaptation to new conditions, reflecting the impact of changes in the economy as a whole, the regulatory environment and demand for specific types of insurance products. It has been determined that in the future, the number of lawsuits under military policies from the ships damaged by sea mines, missile attacks and bombings in the conflict zone in the Black and Azov seas, as well as under private contracts, will increase in the activity of insurance companies. The structural changes in the insurance market and the factors that caused them are analyzed, as well as the trends of changes are given. It has been proven that in the conditions of martial law, the issue of war risk insurance possibilities is quite natural. The possibilities of introducing a fully functional military risk insurance system in Ukraine, which is provided for by the Memorandum on Economic and Financial Policy between Ukraine and the IMF, have been studied. This concept was developed with the participation of specialists from the World Bank, the National Bank of Ukraine of Ministry of Finance and the Ministry of Economy of Ukraine, which is positive for the progressive development of the insurance market of our country in the direction of adaptation to EU standards. A comprehensive analysis of the insurance products of the leading Ukrainian insurers, which provide protection against war risks, was carried out. Prospects for the introduction of new insurance products that will meet the needs of society have been determined. The most promising is the implementation of the effective measures for the proper insurance of investments against war risks, which can contribute to the attraction of funds for the reconstruction of the country, the relocation of enterprises, the organization of high-tech production and services, the creation of new jobs, the adoption and application of innovative experience, an increase in the level of income and an increase in income to state.

Adaptive Strategies in Entrepreneurial Ventures: Navigating Uncertainty and Market Dynamics at MSMe

This study explores the critical role of adaptive strategies in maintaining the growth and competitiveness of Micro, Small, and Medium Enterprises (MSMEs) in dynamic market environments. MSMEs significantly contribute to employment creation, innovation, and overall economic development but face unique challenges such as limited resources, market access, and vulnerability to market changes. Adaptive strategies like product diversification, digital transformation, and strategic partnerships have been found effective in enhancing MSME performance. Product diversification allows MSMEs to enter new market segments and reduce dependence on a single product line, while digital transformation improves operational efficiency and market reach. Strategic partnerships provide access to previously unavailable resources like technology and distribution networks. However, the implementation of these strategies is often hampered by financial constraints, lack of technological knowledge, and resistance to change. The study also highlights the importance of continuous learning and innovation for MSMEs to stay competitive. Continuous learning updates the knowledge and skills of MSMEs in line with industry developments, while innovation enables the development of new products or services that meet changing market needs. Case studies presented in the research demonstrate successful adoption of adaptive strategies by MSMEs to address challenges and leverage market opportunities. The findings offer practical insights for MSME owners, policymakers, and academics on the importance of adaptive strategies in navigating market uncertainties and achieving sustainable growth. The study also provides recommendations for supporting MSMEs in adopting adaptive strategies through initiatives such as training programs, digital transformation funding, and strategic partnership schemes.

Theoretical insights into AI product launch strategies for start-ups: Navigating market challenges

Launching AI products presents unique challenges for start-ups, requiring a deep understanding of market dynamics and effective strategic planning. This paper explores theoretical frameworks and practical approaches to help start-ups navigate the complexities of AI product launches. We begin by analyzing market challenges, including competitive landscapes, market segmentation, and regulatory considerations. Drawing from theoretical models such as lean startup methodology, crossing the chasm theory, and blue ocean strategy, we propose a comprehensive framework for AI product launch strategies. Tactical approaches such as MVP development, customer-centricity, strategic partnerships, and scalability considerations are discussed to facilitate successful product launches. Implementation challenges, including talent acquisition, resource allocation, and investor management, are addressed alongside ethical considerations in AI deployment. Case studies and practical examples offer insights from both successful and failed AI product launches. Through this exploration, we aim to equip start-ups with the theoretical insights necessary to navigate market challenges and drive successful AI product launches in an ever-evolving landscape.

DEVELOPMENT OF FINANCIAL TECHNOLOGIES IN THE REPUBLIC OF KAZAKHSTAN (on the example OF JSC IC NOMAD Insurance)

The article is devoted to assessing the impact of financial technologies on the well-being of insurance companies, to identify negative factors hindering their implementation and development and to suggest ways to reduce this impact. The research used general scientific methods of analysis and synthesis, as well as statistical, correlation and regression methods. The empirical base of the study was made up of official reports and materials of JSC IC Nomad Insurance. The financial technology market in Kazakhstan is one of the fastest growing in Asia. Due to the achieved high level of Internet access penetration (over 90%), the country's fintech sector has huge growth potential. At the same time, large organizations, including companies from the telecommunications sector, are experimenting with the development and implementation of new products and services. And this will contribute to the emergence of new financial technologies in the insurance sector and the emergence of new challenges that require study and solution, which will be the direction of future research. Recommendations have been developed to optimize insurance activities using financial technologies. The company should introduce a number of insurance products and apply technologies to create a "smart" image of the insurance object. Forecasting of the values of the net amount of insurance premiums for the coming years was carried out, the data of which indicates the continuation of the positive dynamics of the activities of JSC IC Nomad Insurance.

Consumer preferences for attributes in sweet beverages and market impacts of beverage innovation

Consumption of sugar-sweetened beverages (SSB) is considered as an important risk factor for the development of overweight and obesity in populations worldwide, with a particular focus on the risks in the younger parts of the population – children and adolescents. Together with fiscal measures and information tools, innovation-based approaches such as the development of sugar-free or sugar-reduced versions of established beverages and development of new beverage products have been used to reduce this challenge, but the effects of product innovation on sugar intake are not well understood from the literature, as previous studies have largely ignored substitution effects of product innovation in the beverage domain. The objective of the present study was to investigate the potential effectiveness of product innovation as a strategy to affect consumers' intake of energy from sweetened non-alcoholic beverages. Using household panel shopping data from approximately 3000 Danish households over the years 2006–2014, we developed a hedonic pricing approach to estimate the influence of product attributes on consumers' utility, based on observed data for Danish households' purchases of sweet drinks. Overall, the study found that beverages’ degree of sweetness positively affected the satiation effect of beverage consumption and in turn made the demand for these beverages less sensitive to e.g. price changes or introduction of competing products, whereas the energy density of the beverages positively affected the demand sensitivity to market changes. Findings like these can be useful for assessing market effects as well as environmental and public health impacts of changes to the market environment.

Projectile Load Design Development and Construction comparing OCW, Ladder, Chronograph, and barrel acceleration FFT Methods for Numerical Models

The research and development of new materials and technologies orient the design, development, and construction of new sport optics products across the globe. With each improvement, whether in a riflescope or accessories, the final product must function without fail in the customer's hand and under the required specification conditions. Therefore, before the product is placed on the market it must be subject to a series of procedures, which involve both performing numerical analysis and physical tests to increase confidence and reliability. Numerical analyses require input data, and that must be consistent with real actions that influence the product to react. In the development of shooting equipment, the rifle recoil is considered the primary reaction for riflescopes, rifles, and accessories alike and is the most significant factor that could cause failure. For this reason, it is essential to use a load development process to have consistent energies, velocities, recoil curves, and reactions. This paper will present, discuss, and analyze the efficacy of the Optimum Charge Weight (OCW), ladder, chronograph, and barrel acceleration Fast Fourier Transform (FFT) load development methods and the results of each in load development.

Glycomacropeptide-Based Protein Substitutes for Children with Phenylketonuria in Italy: A Nutritional Comparison.

Advancements in food science technology have allowed the development of new products for the therapeutic management of inherited metabolic diseases such as phenylketonuria (PKU). Glycomacropeptide (GMP), a peptide derived from casein, is naturally low in phenylalanine (Phe) and, thus, adequate for protein substitutes (PSs) for the management of PKU in children. This review aims primarily to analyse the differences in the nutritional composition of GMP-based protein substitutes in different formulations (ready to drink, powdered, and bars), and secondarily to assess the quality of these products, comparing their nutritional composition with that of standard amino acid (L-AA) mixtures. Thirty-five GMP-based PSs produced by six different companies were included in this review: twenty-one powdered PSs, eight ready to drink, and six bars. The analysis revealed great heterogeneity not only among the different formulations (powdered, ready to drink, and bars) but also within the same group, in terms of energy content and nutritional composition. GMP-based PSs were shown to have higher contents of sugars and saturated fatty acids compared to L-AA PSs, especially in ready-to-drink formulations and bars. The latter also provided the highest amounts of energy among the GMP-based products. This finding may be related to a higher risk of developing overweight and obesity. The greater palatability of these GMP-based PSs, combined with improved nutritional quality, could not only improve adherence to diet therapy but also reduce the incidence of obesity-related comorbidities in PKU.

Management Instruments for New Product Development (NPD), Customers' Satisfaction and Loyalty

Management Instruments for New Product Development (NPD), Customers' Satisfaction and Loyalty

Bio-fermented milk product based on &lt;i&gt;L. acidophilus&lt;/i&gt; fortified by &lt;i&gt;Sanguisorba officinalis&lt;/i&gt; extract

The development of new functional food products containing probiotics and prebiotics of plant origin has actual scientific and practical values. The presented study purpose is the creation of fermented milk products based on L.acidophilus with the introduction of an extract of the Sanguisorba officinalis or great burnet as a prebiotic. Extracts from the great burnet rhizomes and roots have an antimicrobial activity, specifically against the bacteria Escherichia coli, Pseudomonas aeruginosa, and Staphylococcus aureus with pronounced bactericidal effect on various microbes of the dysenteric and paratyphoid groups, a detrimental effect on Trichomonas, fungi of the genus Candida and Giardia. Physicochemical and microbiological indicators during ripening and storage of the obtained fermented milk products based on L.acidophilus with great burnet extracts are considered. Titratable acidity, water-holding capacity, the number of lactobacilli, viscosity, and organoleptic values of fermented milk products are analyzed. It is established that the product with great burnet dry extract at a concentration of 10^-3 g/cm^3 has maximum scores for organoleptic, physicochemical, and microbiological indicators. The developed bio-fermented milk product enriched by antioxidants from extracts of biologically active compounds of great burnet will meet the national and international consumers’ demands with recommendations for therapeutic and preventive nutrition and a healthy lifestyle.

What determines the performance of digital transformation in manufacturing enterprises? A study on the linkage effects based on fs/QCA method

The achievement of high-quality development in the manufacturing industry can be effectively realized through the process of digital transformation. The enhancement of digital transformation performance in manufacturing enterprises has emerged as a prominent topic of interest for both corporate entities and the academic community. Drawing upon the theoretical framework of the TOE model, this article presents a comprehensive analytical framework aimed at understanding the performance of digital transformation in manufacturing enterprises. By assessing a sample of 180 manufacturing enterprises currently undergoing digital transformation, this study employs the fuzzy-set qualitative comparative analysis (fs/QCA) methodology to study the interrelated effects and strategic choices pertaining to technology, organizational structure, and environmental conditions, all of which contribute to the improvement of digital transformation performance in manufacturing enterprises. The findings of the research indicate the following: (1) The attainment of high performance in digital transformation in manufacturing enterprises does not solely rely on a single condition, whether it pertains to the optimization of manufacturing processes or the development of new products. (2) High performance in digital transformation is the result of multiple interacting factors. Various causal configurations, such as “organization-environment oriented”, “all-factor driven”, and “technology-environment oriented”, which have the characteristics of “multiple concurrency” and “different paths leading to the same goal.” (3) In comparison, achieving high performance in manufacturing process optimization requires a higher degree of complexity than attaining high performance in new product development. Additionally, it is challenging to achieve high performance in new product development with a sole reliance on a single technological foundation and external environmental support. These research conclusions contribute to the existing body of knowledge on digital transformation performance, enhancing our understanding of the complex factors that underlie high performance in digital transformation in manufacturing enterprises. Importantly, they hold practical significance in improving the performance of digital transformation in the manufacturing sector.

Perspective of probiotic bacteria in the production of soy-based fermented products

Relevance. It is worth noting that consumers’ awareness of the environmental burden that milk production carries continues to grow. Consumers are looking for alternatives that are more environmentally friendly and have high nutritional value. The demand for plant-based products is increasing for various reasons, namely, 65% of the world’s population has a reduced ability to digest lactose and 6% of the population is allergic to milk protein. According to statistics, 49% of women and 36.6% of men experience symptoms of functional gastrointestinal disorders. Soybeans are one of the most widely grown and consumed legumes worldwide. Thus, the development of new plant-based fermented products is a particularly actual issue.Methods. The objects of study were soybean dispersion and microorganisms Lactobacillus, Bifidobacterium and Propionibacterium. The quality indicators of the resulting soy dispersion were determined. The process of acid accumulation during fermentation with probiotic microorganisms were studied. Data on the accumulation of bacterial biomass during the fermentation process were obtained and the effect of the use of selected starter microorganisms on the change in the antioxidant status of fermented dispersions during storage were investigated.Results. Research results showed that soybean dispersion is a good substrate to produce fermented beverages using Lactobacillus, Bifidobacterium and Propionibacterium microorganisms. The most rapid process occurs when L. bulgaricus and P. schermanii KM-186 are used and the fermentation lasted for 6 hours. All selected strains adapt well to the plant-based media, but the greatest increase in biomass occurs during fermentation with L. bulgaricus, B. longum B379M and B. bifidum. Lactic acid and propionic acid bacteria provide high and stable levels of antioxidant activity on both the 1st and 6th and 12th days of storage.

Sparse Enhanced Network: An Adversarial Generation Method for Robust Augmentation in Sequential Recommendation

Sequential Recommendation plays a significant role in daily recommendation systems, such as e-commerce platforms like Amazon and Taobao. However, even with the advent of large models, these platforms often face sparse issues in the historical browsing records of individual users due to new users joining or the introduction of new products. As a result, existing sequence recommendation algorithms may not perform well. To address this, sequence-based data augmentation methods have garnered attention. Existing sequence enhancement methods typically rely on augmenting existing data, employing techniques like cropping, masking prediction, random reordering, and random replacement of the original sequence. While these methods have shown improvements, they often overlook the exploration of the deep embedding space of the sequence. To tackle these challenges, we propose a Sparse Enhanced Network (SparseEnNet), which is a robust adversarial generation method. SparseEnNet aims to fully explore the hidden space in sequence recommendation, generating more robust enhanced items. Additionally, we adopt an adversarial generation method, allowing the model to differentiate between data augmentation categories and achieve better prediction performance for the next item in the sequence. Experiments have demonstrated that our method achieves a remarkable 4-14% improvement over existing methods when evaluated on the real-world datasets. (https://github.com/junyachen/SparseEnNet)

Effect of Production Flexibility on Performance of State-Owned Sugar Companies in Western Region, Kenya By IJISRT

The underperformance of the Kenyan sugar sector is a major issue that is affecting the ability of the sector to generate revenues or profits that can be used for supporting economic growth and development. Even though the current sugarcane cover is more than 220,000 ha, productivity has remained low achieving only 55 tonnes/ha. Meanwhile, production costs rose sharply reaching US$1007/tonne in 2018. Strategic flexibility in the form of production flexibility has been proposed as a potential solution to help improve the performance and competitiveness of the sugar sector. The aim of this study was to examine the effects of production flexibility on the performance of state-owned sugar companies in Western Kenya. A cross-sectional interview was conducted on a sample of 63 supervisors from the sugar factors selected (Miwani, Mumias, Nzoia, Sony Sugar, Muhoroni and Chemelil Sugar Companies). The regression analysis depicting the relationship between the strategic performance of these organizations and the production flexibility approaches put in place shows that the relationship was significant, F (9, 53) = 27.076, p = 0.000. In this relationship, there was a strong positive relationship between production flexibility and the strategic performance of the organizations in the market. Therefore, the relationship implied that the amount of responsiveness to potential changes in the market through product design changes and the development of new products and new services was pivotal for the strategic performance and productivity of the factories. The other two factors included in the model namely education and years of experience of the employees did not affect the strategic performance of these factories. From the study, it is recommended that there is need for public sugar companies to adjust production capacity, adopt automation and evolving technologies so as to improve on their performance and be able to remain competitive in the market.

Distinctive activation of β-galactosidase by carboxymethylated β-glucan in vitro and mechanism study: Critical role of hydrophobic and electrostatic interactions

β-galactosidase (lactase) is commercially important as a dietary supplement to alleviate the symptoms of lactose intolerance. This work investigated a unique activation of CMP (carboxymethylated (1 → 3)-β-d-glucan) on lactase and its mechanism by comparing it with carboxymethyl chitosan (CMCS), an inhibitor of lactase. The results illustrated that the secondary and tertiary structures of lactase were altered and its active sites exposed after complexation with CMP, and dissociation of lactase aggregates was also observed. These changes favored better accessibility of the substrate to the active sites of lactase, resulting in a maximum increase of 60.5 % in lactase activity. Furthermore, the hydrophobic and electrostatic interactions with lactase caused by the carboxymethyl group of CMP were shown to be crucial for its activation ability. Thus, the improvement of lactase activity and stability by CMP shown here is important for the development of new products in the food and pharmaceutical industries.

Study on Market Research on New Product Development

he article underscores the pivotal role of market research in product development, cautioning against the risks associated with inadequate methodologies. It identifies five core research challenges within the New Product Development (NPD) stages and proposes a systematic framework to address them. Validated through focus groups with specialists, this approach aims to provide tailored solutions to each problem, thereby enhancing decision-making in innovation processes. While offering valuable guidance for managers, the study acknowledges potential limitations in generalizability due to its specific research approach, urging further validation in subsequent studies to strengthen the framework’s applicability across diverse contexts.

FINANCIAL TECHNOLOGY INNOVATION AND BANKING INDUSTRY TRANSFORMATION

This research aims to innovate in technology, finance, and transformation in the banking industry. The research method used in this research is qualitative. Qualitative research is a research method used to understand social phenomena in depth. This type of research is library research, which researchers carry out by collecting, studying, and analyzing references or sources. obtained in writing or written form, such as books, journals, articles, documents, and other sources of information that are significant to the topic or title being researched. The research results show that the impact of development technology on industry banking in Indonesia is positive, namely: Improvement Efficiency and Productivity: Adoption technology has brought significant enhancements to efficiency bank operations, with automation of processes and usage intelligence artificial to reduce costs and improve productivity. Enhancement Experience Customer: Innovation technology has allowed banks to increase customer experience through applications in digital banking, customer chatbot-based services, and self-service platforms. Enhancement Security and Management Risk: Although there are worries related to data security, development technology has the potential to repair significant system security and management risks. With the use of data encryption and analysis behavior, users can identify and respond to threats to security more quickly. Innovation Products and Services: Technology has pushed the development of new products and services in the banking industry, including robo-advisors, peer-to-peer lending platforms, and applications for mobile payments, which deliver a markup for customers and help banks expand their market share. Enhancement Efficiency and Transparency Management: System Management Integrated information and analytical dashboards have increased efficiency and transparency in bank management.