An Exploratory Study on the Effect of Artificial Intelligence-Enabled Technology on Customer Experiences in the Banking Sector

Hatem El-Gohary, Aksaya Thayaseelan, Simeon Abiola Babatunde, Salma El-Gohary

    Research output: Contribution to journalArticlepeer-review

    Abstract

    This study investigates how artificial intelligent technology in the banking sector has affected consumers? overall experience. It focuses on how consumers? personal digital transformation has affected digital banking development and how this further affects consumer?s expectations and experience. It assesses how banks use Artificial Intelligent Virtual Agents such as Chatbots to transform how consumers use their banking facilities. Lastly, this study investigates the scope of neobanks in the banking sector. The study found that digital transformations have led to an increase in consumers? expectations from their banks. Whilst banks revolutionise their customer service offerings through virtual agents, customers are not engaging with these at an expected rate. Findings revealed that Neobanks are not operating at their expected traction due to consumer knowledge gaps, occasioned by a lack of advertised information to customers from their banks.
    Original languageEnglish
    Pages (from-to)1-17
    Number of pages17
    JournalJournal of Technological Advancements
    Volume1
    Issue number1
    Publication statusPublished (VoR) - 1 Jan 2021

    Keywords

    • Artificial Intelligence (AI)
    • Chatbots
    • Customer Experience (CX)
    • Customer Relationship Management (CRM)
    • FinTech
    • Neobanks
    • Virtual Agent (VA)

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