Artificial Intelligence in retail Banking and the impact to consumer behaviors

The following research examines how retail banking AI affects customer behaviour. AI
may enhance consumer experience, engagement, and cost. It improves account opening and loan
application efficiency and accuracy. AI may also personalize services, determine client
preferences, and provide contextual suggestions. The article examines how AI affects retail
banking customer behaviour, trust, and loyalty. It also discusses AI implementation obstacles
and ways for banks to succeed. Along with this, the results may help retail banks use AI to better
understand and meet client wants. This secondary, theme study examines retail banking's use of
AI and its effects on customer behaviour.
AI technology has becoming essential to the banking business, with applications ranging
from customer service automation to powering analytics and risk management. Its potential and
ramifications must be examined. This study used interpretative and digital strategies to find
relevant primary and secondary materials. Consumer behaviour research on artificial intelligence
in retail banking generally focuses on conversational AI, automation and machine-learning AI,
AI blockchains, and AI-driven financial solutions. The data show that AI is influencing
consumer behaviour. AI's ease in automating banking and customer service, confidence in
tailored suggestions, and other perks. AI technology in banking is changing customer behaviour
and enabling a more sophisticated banking experience. AI banking may potentially provide
hazards. Privacy, consumer uncertainty with AI, and data control. AI bias, accuracy, security,
and other psychological and ethical issues influence customer behaviour. The presentation will
conclude with possibilities and challenges for major retail banks as they experiment with AI and
its effects on customer behaviour.