THE ROLE OF ARTIFICIAL INTELLIGENCE IN THE DEVELOPMENT BANKING SECTOR

Abstract

The authors analysed the impact of artificial intelligence (AI) on the innovation of the Polish banking sector. The article aims to identify the role and potential of AI in the development of new products and services in the banking sector. It has been pointed out that AI has a positive impact on the economy and that it is therefore necessary to increase funding for its development, especially in those key sectors of the economy, such as the financial sector, where we have the opportunity to develop competences and achieve a competitive advantage. The benefits and risks of using AI in the financial and banking sectors have been highlighted. It is important that when implementing AI solutions, you first identify the key business processes and then the technology that you want to deploy. It was concluded that a cost,benefit and risk analysis should be carried out before implementing the AI into an organisation.