• Pankaj Gupta
• Devendra Singh Parmar

AI is revolutionising banking operations, security, and consumer satisfaction. AI's revolutionary impact on banking is examined in this article, highlighting its many uses. This trend is led by chatbots and virtual assistants, which provide instant support and individualised responses to improve service efficiency and customer engagement. AI is essential for risk management and fraud detection. Advanced machine learning algorithms that analyse huge transaction data in real time for suspicious trends and fraud have reduced financial crime. AI models can better forecast risks and creditworthiness, helping banks make informed risk management decisions and prevent financial losses. AI-powered data allows banks to customise financial goods and services. Personalisation promotes client satisfaction and loyalty by providing fast, appropriate financial solutions. AI-driven automation is changing customer onboarding and regulatory compliance. Automation speeds up and reduces human error in certain processes. AI increases security by detecting threats more effectively through predictive analytics, enabling early vulnerability discovery and robust cyberattack defences. AI has many benefits but also drawbacks in banking. AI can cause data quality, regulatory, and system integration concerns. To solve these issues, invest in data management systems, comply with regulations, and use flexible integration frameworks. Financial institutions may use hyper-personalization, blockchain integration, and quantum computing research in AI. Explainable AI will make AI-driven decisions more transparent and trustworthy. In the ever-changing financial sector, banks must emphasise AI initiatives to stay competitive and reap operational gains.

Artificial Intelligence, Banking, Chatbots, Fraud Detection, Risk Management, Predictive Analytics, Automation, Cybersecurity, Personalization

"SCALING AI INITIATIVES FOR IMPACTFUL TRANSFORMATION IN BANKING", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.11, Issue 9, page no.d854-d863, September-2024, Available :http://www.jetir.org/papers/JETIR2409399.pdf

"SCALING AI INITIATIVES FOR IMPACTFUL TRANSFORMATION IN BANKING", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.11, Issue 9, page no. ppd854-d863, September-2024, Available at : http://www.jetir.org/papers/JETIR2409399.pdf