GASPRO International Journal of Eminent Scholars

ABSTRACT

This study investigates Artificial Intelligence (AI) adoptions for financial process innovation by commercial banks in Nigeria. Two specific objectives, two research questions and hypotheses were stated for the study. The variables of the study were AIs for fraud detection and personalized banking experience. A sample size of 143 selected from a population of 174 comprising accounting lecturers in public universities in Akwa Ibom State and bank managers, operational staff and key personnel in commercial banks operating in Uyo, Akwa Ibom State were used for the study. Descriptive survey research design was employed for the study. The research instrument used for the study is a researcher- developed questionnaire tagged “Artificial Intelligence Adoptions for Financial Process Innovation Questionnaire” (AIAFPIQ). The instrument developed by the researcher was face validated by three experts. The instrument was administered to 30 persons through test retest to establish the reliability. The result was then coded for testing using Cronbach Alpha technique. The reliability index yielded 0.89. The data generated was analyzed using Mean, standard deviation and t-test Analysis. Findings of the study reveal that AI can be applied for fraud detection and personalized banking experience. Furthermore, Experts (Bankers and Accounting Lecturers) do not differ significantly on their responses on adoption artificial intelligence (AI) in fraud detection, and personalized banking experience in promoting financial process innovation by commercial banks in Nigeria. It is recommended among others that AIs should be systematically implemented by banks not just as a form of competition but as an overall business strategy.

KEYWORDS: fraud detection, personal banking experience, AIs in banks and AI adoption