Transforming Indian Banking: The Impact of Intelligent Systems and Process Automation on Financial Innovation

In this study, we analyze data from 15 banks to capture the full spectrum of customer attitudes, from very optimistic to highly conservative. The State Bank of India and Punjab National Bank say they will benefit more, while others like Dhanlaxmi Bank are more cautious. This dichotomy is a strong indication of the determinants that influence the level of AI readiness within an institution, including but not limited to the firm’s culture, technological endowment, and customer base. These findings are further complemented by the results of the chi-square test, which elucidate the inconsistency of opinions among financial institutions regarding the impact of AI and automation. These differences give rise to the need for strategic diversity that is suited to the particular characteristics of each bank. While banks continue to undergo AI-mediated transformations, it will be important to deal with the specific issues and expectations posed by different institutional contexts in order to facilitate acceptance and advancement. Additionally, considering the views of banking experts from different positions, there is a wide range of viewpoints and a clear need for approaches that are suited to the specific roles within different banks. Incorporating AI and automation into the operating processes of banks is a complex issue and requires a proper understanding of the unique setting of every company.