review · Business & Management Compass
Digitalisation and Web 2.0 banking have altered relationships between banks and clients, embedding digital tools into everyday consumer activities. Artificial intelligence is increasingly central to these interactions, particularly within emerging economies. Based on a systematic literature review and thematic analysis of 90 articles, this study maps how banking organisations adopt artificial intelligence across key operational and customer service domains. The findings identify growing implementation in process automation, customer experience, stock market trend prediction, credit risk management, online banking, marketing management, and auditing. Overall, artificial intelligence positively influences operational efficiency and customer service delivery. Successfully capturing these benefits requires ethical technology use, trust in data handling, robust internal controls, and active collaboration among stakeholders. To support financial inclusion and broader economic growth, leadership and organisational culture must also align with technological adoption across banking institutions.
Banks in emerging markets increasingly rely on digital platforms to serve customers and modernise operations. By synthesising existing evidence on artificial intelligence adoption, this work helps bank executives and policymakers understand where automated technologies deliver measurable efficiencies, while highlighting the governance, ethical standards, and organisational changes required to expand financial inclusion responsibly.
This work synthesises literature rather than developing a new technology, meaning direct commercialisation does not apply. However, it outlines immediate practical use cases for commercial banks and fintech providers in emerging markets, specifically in process automation, credit risk evaluation, and online customer support. The findings serve as early-stage operational guidance for technology officers and decision-makers planning artificial intelligence investments and governance frameworks.
AI-generated from the published abstract. Always read the original work before citing.
The banking industry's shift towards digitalization, particularly Web 2.0 banking, signifies a profound change in the bank-client relationship. This transformation integrates digital elements into consumers' lives, digitising everyday activities and highlighting the importance of online social platforms and digital business operations. AI's growing interest in academia and commerce underscores its significant role in customer service. The study examines AI strategies in the banking industry, focusing on service areas and adaptation to the evolving technological landscape, particularly in customer service in developing economies. By adopting an interpretivist philosophy emphasising practicality, a qualitative approach was employed through a systematic literature review of 90 articles using thematic analysis. The research highlights AI's growing use in process automation, customer experience, stock market trend prediction, credit risk management, online banking, marketing management, and auditing. It concludes AI's positive impact on banking operational efficiency and customer service by recommending ethical AI usage, stakeholder collaboration, trust in data handling, and robust internal control systems. Additionally, it suggests exploring the association between organisational culture, leadership, and AI integration in developing economies. The research contributes to the theoretical and empirical frameworks that explain how AI is optimally integrated into banking operations, guiding policymakers and practitioners in leveraging AI to foster financial inclusion and economic growth. Future researchers should include non-profit institutions and non-financial performance metrics to gain insights into AI’s sustainability implications in banks beyond financial metrics.
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DOI: 10.56065/9hfvrq20
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