Banking Chatbots: How Artificial Intelligence Helps the Banks

Cîmpeanu Ionuț-Alexandru (), Dragomir Denis-Alexandru () and Zota Răzvan Daniel ()
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Cîmpeanu Ionuț-Alexandru: Bucharest University of Economic Studies, Bucharest, Romania
Dragomir Denis-Alexandru: Bucharest University of Economic Studies, Bucharest, Romania
Zota Răzvan Daniel: Bucharest University of Economic Studies, Bucharest, Romania

Proceedings of the International Conference on Business Excellence, 2023, vol. 17, issue 1, 1716-1727

Abstract: When we speak of solutions that can be designed, developed, and implemented to solve a determined problem in a specific domain, human intelligence shows that it cannot be kept within regular bounds. In addition, it consistently manages to produce innovative elements that increase efficiency, applicability, and abstraction, with the drawback of increasing the overall underlying complexity. As technology advanced and time passed, in every system there was a visible need to automate manual, repetitive, and mundane tasks to help save time and let humans focus on more important things. A practical example of such a system is the banking system. In this paper, our aim is to present how Artificial Intelligence (AI) helps this field through the use of chatbots. In this sense, we present and analyse five examples of such applications that are already used in the international banking system, highlighting the main benefits they bring. Finally, we present some conclusions regarding the chatbot systems analysed, acknowledging that the future will increasingly belong to IT applications of this kind.

Keywords: Finance; Artificial Intelligence; Chatbots; Software; Banking (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:poicbe:v:17:y:2023:i:1:p:1716-1727:n:25

DOI: 10.2478/picbe-2023-0153

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