Artificial Intelligence in Banking and Financial Services: A Study of AI Applications and Consumer Response in SBI Bank

Abstract

The revolutionary effects of AI on the banking and financial services industries are the subject of this research, which primarily examines State Bank of India (SBI). This study shows how artificial intelligence (AI) applications like chatbots, predictive analytics, and risk assessment tools improve operational efficiency and consumer experience. In addition, it delves into client reactions to AI integration, shedding light on customer happiness, confidence in automated services, and overall impressions. According to the results, in order for banks to fully take use of AI's capabilities in the banking industry, they need to allay customers' fears about data security and privacy.