Artificial Intelligence in Retail Banking: Opportunities and Challenges

The research examined the opportunities and challenges related to implementing artificial
intelligence (AI) in the retail banking industry in United Arab Emirates, specifically Abu Dhabi.
The researcher used a qualitative research technique (a semi-structured interview) to investigate
the experiences and perceptions of various senior managers and employees at First Abu Dhabi
Bank, Abu Dhabi Commercial Bank, and Abu Dhabi Islamic Bank. Moreover, the researcher
incorporated descriptive statistics to capture customers' behaviors toward using AI. The researcher
assessed the opinions of the customers of these banks. As a result, 53 participants were
incorporated into this study. The data was analyzed using thematic analysis to understand the
challenges and opportunities in retail banking in Abu Dhabi. The findings highlighted the
multifaceted nature of AI adoption, revealing the potential benefits, such as enhanced customer
experiences and operational efficiency, as well as the challenges related to data privacy, regulatory
compliance, and customer trust.