Affiliation:
1. Southern Cross University, Australia
Abstract
The application of artificial intelligence (AI) across various industries has become increasingly prominent over time, and the banking industry has transformed significantly due to its advancement. The shift from traditional banking to modernised banking solutions has been driven by technological developments. Efficiency improvements in customer service, data-drive solutions, proactive actions rather than reactive responses, automated processes, and personalised marketing through customer segmentation are a few of the benefits of applying AI in the banking sector. These solutions purport to increase customer satisfaction, loyalty, cross-selling opportunities, and engagement, creating a win-win situation for the bank and its customers.