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Prema R

Ranjitha S

Subashini V

Abstract

The integration of Artificial Intelligence (AI) in banking is revolutionizing the financial services industry by driving efficiency, enhancing customer experience, and ensuring robust risk management. This paper explores the multifaceted applications of AI in banking, from automating routine processes to personalizing customer interactions and bolstering cybersecurity. By leveraging machine learning algorithms and advanced data analytics, banks are optimizing operational efficiency and gaining deeper insights into customer behavior, enabling them to offer tailored financial products and services. Furthermore, the paper examines the ethical implications, regulatory challenges, and future prospects of AI in the banking sector. As AI continues to evolve, its role in shaping the future of banking is poised to expand, offering unprecedented opportunities for innovation and growth while necessitating careful consideration of associated risks. This study aims to provide a comprehensive overview of AI’s impact on banking and its potential to transform the industry for the better.

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