Article: Banking in the era of artificial intelligence: a survey of the economic, social and strategic implications Journal: International Journal of Banking, Accounting and Finance (IJBAAF) 2025 Vol.15 No.1/2 pp.164 - 180 Abstract: Integrating artificial intelligence (AI) into banking platforms represents a transformative shift in the financial services industry, driven by the need for enhanced efficiency, improved customer experience, and robust security measures. This article analyses the economic, social, and strategic implications of AI adoption in banking. Through a comprehensive literature review, the study examines the impact of AI on operational efficiency, customer experience, security, and financial inclusion. It also addresses the ethical and regulatory challenges associated with AI, including algorithmic bias, transparency, and compliance. The findings underscore the importance of developing ethical guidelines and regulatory frameworks to ensure the responsible use of AI in banking. Strategic recommendations for banks include investing in AI talent, fostering collaborations, adopting a customer-centric approach, and ensuring ethical AI deployment. Future research directions are also suggested to explore further the potential of AI in enhancing banking services and promoting financial inclusion. Inderscience Publishers - linking academia, business and industry through research

Title: Banking in the era of artificial intelligence: a survey of the economic, social and strategic implications

Authors: Santiago Carbó-Valverde; Francisco Rodríguez-Fernández

Addresses: Facultad de Economía, University of Valencia, Campus Tarongers, 46022, Valencia, Spain; Funcas, C. del Caballero de Gracia, 28, Centro, 28013 Madrid, Spain ' University of Granada, Av. del Hospicio, 1, Albaicín, 18012 Granada, Spain; Funcas, C. del Caballero de Gracia, 28, Centro, 28013 Madrid, Spain

Abstract: Integrating artificial intelligence (AI) into banking platforms represents a transformative shift in the financial services industry, driven by the need for enhanced efficiency, improved customer experience, and robust security measures. This article analyses the economic, social, and strategic implications of AI adoption in banking. Through a comprehensive literature review, the study examines the impact of AI on operational efficiency, customer experience, security, and financial inclusion. It also addresses the ethical and regulatory challenges associated with AI, including algorithmic bias, transparency, and compliance. The findings underscore the importance of developing ethical guidelines and regulatory frameworks to ensure the responsible use of AI in banking. Strategic recommendations for banks include investing in AI talent, fostering collaborations, adopting a customer-centric approach, and ensuring ethical AI deployment. Future research directions are also suggested to explore further the potential of AI in enhancing banking services and promoting financial inclusion.

Keywords: artificial intelligence; banking; digital transformation; financial inclusion; operational efficiency; regulatory compliance; ethical considerations.

DOI: 10.1504/IJBAAF.2025.146534

International Journal of Banking, Accounting and Finance, 2025 Vol.15 No.1/2, pp.164 - 180

Received: 15 Jun 2024
Accepted: 27 Sep 2024
Published online: 02 Jun 2025 *

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Title: Banking in the era of artificial intelligence: a survey of the economic, social and strategic implications

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