A Study on the Role of Artificial Intelligence in Financial Services

By enhancing productivity, accuracy, and client satisfaction, artificial intelligence (AI) is progressively changing the financial services industry. Examining the role of AI in financial services and analysing user satisfaction, adoption, and views across various demographic groups are the main goals of this study. Convenience sampling was used to gather primary data from 100 respondents for the study. The hypotheses were tested between variables including age, income, occupation, and gender were examined using statistical techniques like ANOVA and Chi-square tests. According to the findings, there is no discernible variation in the degree of customer satisfaction with AI use among various age, occupational, and income categories. Furthermore, there was no discernible variation between demographic characteristics and the use of AI, recommendations, privacy issues, or user experience. These results show that AI-based financial services are extensively used and offer a consistent user experience for a variety of demographics. In summary, AI has a transformational and inclusive function in financial services, providing customers with similar benefits regardless of their demographics. However, to guarantee ongoing trust and successful application of AI technology in financial services, issues pertaining to data security and privacy must be resolved.