Achieving Equilibrium: Exploring the Connection between Artificial Intelligence and Digital Innovation to Enhance Banking Services

Abstract

The primary objective of this study is to investigate the use of artificial intelligence (AI), digital innovation, and Fintech to promote banking services in Pakistan. To achieve these goals, a questionnaire-based survey was conducted. The study examined a range of people in Pakistan, including shoppers, business owners, and employees in the banking and financial sectors. The findings elucidated the intricate relationships among AI, digital innovation, and Fintech within Pakistan's banking sector. The poll results indicate that people across demographic groups recognize and use AI-powered financial services and FinTech platforms to varying degrees. The results of this study will affect many people in the banking industry and the economy. To better meet the needs of diverse client groups, financial institutions can use data to refine their AI and FinTech strategies. Regulators might use findings from the study to develop regulations ensuring that these technologies are safe and ethically sound.