Advantages	Description
Operational Efficiency	The operational efficiencies benefit the organizations, their employees, and customers. Umamaheswari et al. (2023) find that utilizing AI-powered technology in banks can enhance operational efficiency by limiting the need for employee intervention. Likewise, Kaur et al. (2020) explain how AI can automate repetitive and time-consuming tasks, improving employee productivity. Employees can now attend to more essential activities, creating more value for the bank and its customers.
Stepped Up Risk Management	Also, AI can reduce banks’ risk exposure against frequent and intricate transactional velocities. The detection of fraudulent activities with AI happens in real time through machine learning capabilities and embedded algorithms that pick up any internal or external anomalies in the data (Mytnyk et al., 2023) . These capabilities make AI-based fraud detection methods significantly more advanced than conventional methods currently used by banks (Mytnyk et al., 2023; Noreen et al., 2023; Naik et al., 2022) . The potential for losses reduces considerably with the use of AI. So, incorporating this technology to mitigate transactional fraud has become necessary for banks to prevent losses and to provide customers with the assurance needed.
Informed Strategic Decision-Making	Fares et al. (2022) and Kaur et al. (2020) find that implementing AI technology in the banking industry enables the effective development of business strategies through accurate data and analytical support for decision-making.
Improved Customer Service Delivery	The benefit of making better strategic decisions for the bank will also spill over to their customers by providing consistent customer service, developing personalized solutions, and building customer loyalty. Li et al. (2023) find that banks need help maintaining customer loyalty due to the abundance of available options to customers in the marketplace. Al-Araj (2022) mentions that customers expect consistent banking services, and for banks to achieve this, implementing effective customer relationship management (CRM) capabilities is a critical success factor. Al-Araj (2022) further presents evidence that AI positively impacts CRM capabilities.
Cost Optimization	Umamaheswari et al. (2023) make the connection between providing faster and error-free processing with the support of AI and the resultant lower transactional costs. Lower cost benefits of AI can also be seen in areas such as paper and printing (Noreen et al., 2023) . In lowering the cost of bank processes, banks can pay forward the benefit to their clients by reducing their banking fees. Customers will increase transaction volumes, and the banks will be more profitable.
Effective Customer Solutions	Noreen et al. (2023) reveal that AI technology can assist banks in predicting customer emotions and behavior. The predictive information can enable the development of tailored product solutions, personalized service offerings, and effective customer segmentation. The latter enable increased customer loyalty, that is essential for banks to retain and expand customer usage, which is possible by incorporating AI.