The impact of artificial intelligence in the banking sector is likely to be limited to two areas in the near future: improving the security of operations and increasing the speed of service. This opinion was expressed by fintech expert Gela Slyusarchuk in a commentary to UNN.
Improving the security of all banking and payment transactions through a more sophisticated analysis of customer actions, payments, and decision-making. Increasing the speed and quality of customer service in standard issues by replacing the operator with AI,
In the longer term, the expert foresees a reduction in the number of bank employees, especially in the areas of financial monitoring, loans, and even among developers, as AI will be able to perform a significant number of functions of employees in these areas.
At the same time, Olena Sosedka, co-founder of Ukraine's first fintech ecosystem Concord Fintech Solutions, sees the issue of replacing employees with AI somewhat differently. In her opinion, although the use of AI may reduce the need for some traditional roles, technology creates new opportunities, especially in the areas of data analysis, software development, and innovation management.
"Adapting to these changes will require employees to acquire new skills and continuous learning," adds Sosedka.
Olena Sosedka believes that in addition to the use of AI for communication with customers (e.g., chatbots) and fraud prevention, it can be used for cyber defense of financial institutions, big data analysis (e.g., in lending), and automation of some routine processes of banks.