Development of artificial intelligence in the banking sector: opportunities and challenges

The article is devoted to the analysis of key areas of application of artificial intelligence (AI) in the banking sector and the assessment of the effectiveness of the implementation of AI solutions. Such areas of AI use as automation of customer service, personalization of banking offers, risk management, fraud prevention, trading and asset management, optimization of internal processes are considered. Specific examples and quantitative estimates of the effect of the use of AI in various areas of banking are given, based on the experience of Russian and foreign banks, as well as data from research and consulting companies. There is a significant potential for AI to increase revenues and optimize expenses of banks, strengthen their competitive positions. At the same time, the problems and limitations associated with the introduction of AI in banks are highlighted, such as the need for investments in data and infrastructure, issues of interpretability of models, and ethical aspects. The conclusion is made about the growing role of artificial intelligence as one of the key factors in the transformation and development of the banking industry.