“A Study on the Impact of Artificial Intelligence(AI) Technology-Enabled Digital Banking Services on Consumer Loyalty”- A Conceptual Framework

Abstract

In this tech era, the service industry, such as banks, becomes more digitalized, as they provide digital banking or online banking services additionally, in order to gain a competitive advantage and also achieve a significant market share. Artificial Intelligence (AI) is one of the more advanced form of technology used in computer designs that allow us to execute the task which generally needs the intelligence of human beings, including speech reputation, visible identification, translation of languages and hassle-solving. AI technology used in banking provides personalized and customized high-quality customer satisfaction and loyalty with effective and efficient services. The systematic literature review in this study covers the different trends in digital banking such as service-related quality dimensions, AI technology factors, customer satisfaction, and consumer loyalty. Personal demographic factors too, impact digital banking, and hence a conceptual model and its structure equation modeling (SEM) are proposed which validates the model so as to demonstrate the impact of AI technology on loyalty of banking customers. This study focuses on how AI-enabled banking devices might increase consumer loyalty. Service quality dimensions (Reliability, Assurance, Customization, Empathy and Responsiveness) and Technology Acceptance Model (TAM) factors (perceived usefulness, perceived ease of use, perceived risk, perceived trust & perceived benefits) significantly impacts customer satisfaction and consumer loyalty.