• ISSN: 2301-3567 (Print), 2972-3981 (Online)
    • Abbreviated Title: J. Econ. Bus. Manag.
    • Frequency: Quarterly
    • DOI: 10.18178/JOEBM
    • Editor-in-Chief: Prof. Eunjin Hwang
    • Executive Editor: Ms. Fiona Chu
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HOME > Archive > 2024 > Volume 12 Number 4 (2024) >
JOEBM 2024 Vol.12(4): 424-432
DOI: 10.18178/joebm.2024.12.4.832

Application of AI in Banks and Future Development Strategies

Zhiyi Wang
Zhengzhou No. 7 Middle School, Zhengzhou, China
Email: 19337357777@163.com (Z.Y.W.)

Manuscript received September 9, 2024; revised October 7, 2024; accepted November 16, 2024; published November 27, 2024.

Abstract—With the rapid development of artificial intelligence, it has brought huge productivity gains and changes to all industries, which makes far-reaching impact of artificial intelligence on various industries and the future development trend is an important research issue. This paper focuses on the banking industry and explores the current status of AI application in the banking industry as well as the future development prospects, respectively, from the technical point of view, policy factors, data issues, etc., based on the actual statistical data for a comprehensive analysis. The report shows that AI in the banking industry has great potential to promote the digital-intelligent transformation of the banking industry, while there are several challenges, such as data privacy, legal ethics, unemployment and other risks worth noticing. In order to regulate the healthy development of AI in the banking industry, this report puts forward corresponding measures and recommendations, which provides a reference guide for the banking industry and a decision-making basis for policy departments, and has significant application value.

Keywords—Artificial Intelligence (AI), banking industry, digital-intelligent transformation

Cite: Zhiyi Wang, "Application of AI in Banks and Future Development Strategies," Journal of Economics, Business and Management, vol. 12, no. 4, pp. 424-432, 2024.

Copyright © 2024 by the authors. This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited (CC BY 4.0).

 

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