Impact of Artificial Intelligence on Performance of Banking Industry in Middle East ocr

Artificial intelligence is a cutting-edge technology that have been forefront in technological revolution worldwide. Owing to greater acceptance of new technological innovations, artificial intelligence sector had been developing at an unprecedented pace and is being applied in many walks of life. Artificial intelligence systems have potential in transforming all operations of banking industry is seen as (AI) and is received with enthusiasm due to its capability of taking human-like decisions and avoiding human-like errors. Artificial intelligence has been adopted in some sectors more widely than others, banking sector is amongst the few sectors that had shown moderate level of acceptance and adoption of this technology. This study explores the adaption of artificial intelligence in banking sector of Middle East. This region is known for its mixed pace acceptance of various technological tools in the local banking industry. The primary data required to analyse issue at hand was collected using survey as a research strategy, the data was collected from 200 bank employees across a few selected banks in the region. The main behind this survey is to gather information related to understanding implementation of Artificial intelligence in banking sector and understand its impact. The data collected was also quantitatively analysed using SPSS21.0 software.