Published Online:July 2025
Product Name:The IUP Journal of Accounting Research & Audit Practices
Product Type:Article
Product Code:IJARAP280725
DOI:10.71329/IUPJARAP/2025.24.3.601-612
Author Name:Srinivas Barla and Gaddam Naresh Reddy
Availability:YES
Subject/Domain:Finance
Download Format:PDF
Pages:601-612
The paper examines the evolution of artificial Intelligence (AI) and the challenges in its adoption by the banking system. It evaluates useful applications of AI in banking operations and analyzes customer perception and satisfaction towards AI-enabled banking services. A descriptive and exploratory research design was employed. Data was collected from a sample of 100 participants through convenience sampling, using surveys to capture customer perceptions and satisfaction levels, while secondary sources such as reports and prior studies were used for contextual analysis. The findings indicate that AI adoption in Indian banking is perceived positively, particularly for its role in enhancing safety, efficiency, and user experience. Customers associate AI with fraud detection, improved service personalization, and streamlined processes. The results further reveal a strong correlation between consumer perceptions of AI and their satisfaction with banking services.
Emerging technologies like artificial intelligence (AI) are increasingly recognized by global financial bodies as key drivers of growth and innovation in financial services. In 2017, the Financial Stability Board (FSB), which oversees the global financial system, identified various AI applications in areas such as portfolio management, client due diligence, credit scoring, and regulatory compliance.