Improving Efficiency Through AI-Powered Customer Engagement by Providing Personalized Solutions in the Banking Industry

Abstract

Artificial intelligence (AI) is revolutionizing banking by improving client engagement and operational efficiency with personalized solutions. This chapter analyses how AI-powered customer engagement enhances operations and customizes solutions. AI tools help banks learn client preferences and behaviors by analyzing massive volumes of data, supporting a customer-centric strategy that promotes happiness and loyalty. The chapter reviews prominent banks' AI deployments and case studies, addresses data protection, ethics, and regulatory compliance, and offers advice for banks seeking competitive advantage. The chapter also discusses AI-powered banking trends like better credit evaluation, personalized services, and fraud protection. Banks can improve operational efficiency and provide personalized client experiences by using AI-driven service marketing. For banking professionals interested in using AI to create a competitive edge, this chapter provides practical tactics, insights, and recommendations for successful AI adoption in financial services.