From glass ceilings to smart systems: Investigating the link between gender-inclusive corporate boards and AI transformation in banking

Abstract

This study examines the association between gender-inclusive boards and AI adoption in Nigeria's banking sector, with particular attention to board leadership, regulatory compliance and risk management. Using a cross-sectional survey design, data were collected through structured questionnaires administered to 100 employees of listed Nigerian banks between February and June 2025. The population of the study consists of all 12 commercial banks listed on the Nigerian exchange Group (NGX). A purposive sampling technique was used to select 5 banks based on total assets and market capitalisation. A total of 100 employees participated in the survey, representing approximately 20 respondents from each bank. Respondents were drawn from executive management, customer service and risk/compliance and IT units. Board-level variables such as gender inclusion and board leadership were obtained from the corporate governance disclosures of sampled banks which were then matched with employee survey responses from the corresponding bank. Thus, employee perceptions of AI adoption, regulatory compliance and risk balance were analysed alongside bank-specific governance characteristics. Multiple regression model was used to estimate the data. The results revealed significant positive associations between gender inclusion (β = 0.297, p < 0.05), board leadership (β = 0.331, p < 0.05), regulatory compliance (β = 0.309, p < 0.05), risk management (β = 0.115, p < 0.05) and AI adoption, with the regression model explaining 74.1% of the variation in AI uptake across sampled banks. The findings suggest that banks with stronger gender representation on boards tend to report higher levels of AI adoption and stronger governance practices. The study concludes that gender diversity on boards enhances banks’ capacity to navigate digital transformation responsibly. Therefore, the study recommends targeted training for board members, policy incentives for diversity, and integrated compliance mechanisms to ensure sustainable and inclusive AI-driven innovation in the financial sector.