Impact Of Ai On The Banking Industry 4.0

Abstract

Moving forward in the fourth-generation industry, which is known as Industry 4.0 or the Fourth Industrial revolution, defined as merger of advanced manufacturing techniques with the Internet of Things to create manufacturing systems that communicate, analyze, and use information to stay inter connected so that give back intelligent action to the physical world. Artificial intelligence is the substitute of human intelligence processes by machines, especially computer systems, it is also known as machine learning, which focuses on creating and managing that type of technology that help in independently making decisions and do actions on behalf of a human being. It is changing the way we live, interactions with clients and companies, which also changes existing business methods and financial services. This study focuses on reviewing banks in a fourth industrial revolution, this paper has qualitative approach from the references, we will confer how Artificial Intelligence is used in the banking sector, the benefits and the Challenges faced by banking industry. Development of Artificial Intelligence has different ways in which it can improve the operations of a banking industry and safeguard customers with priority section.