ARTIFICIAL INTELLIGENCE INTERGRATION AND PERFORMANCE OF MONEY DEPOSIT BANKS IN LAGOS METROPOLIS: A STUDY OF UNITED BANK FOR AFRICA

A.B. OFUANI; C. I OMOERA; C AKAGHA

A.B. OFUANI Department of Business Administration, Faculty of Management Sciences, University of Lagos.
C. I OMOERA Department of Business Administration, Faculty of Management Sciences, University of Lagos
C AKAGHA Faculty of Management Sciences, University of Lagos, Lagos, Nigeria

Keywords: Artificial Intelligence, Integration, Business Process, Firms’ Performance, Virtual Banking

Abstract

This study examined Artificial Intelligence integration and performance of money deposit banks in Nigeria: A study of United Bank for Africa, using several variables and surrogates of artificial intelligence and how they affect the performance of banks. Four objectives, research questions and hypotheses were formulated for the purpose of the study. Primary data through the use of a questionnaire was collected on non-financial variables by a stratified sampling technique. 130 out of 150 copies of the questionnaire administered were duly filled, returned and analysed. The research instrument used was tested for validity and reliability. The hypotheses were analysed using Regression and Pearson Correlation. The findings showed mobile banking and robotic process automation have a positive significant effect on Bank performance while the adoption of Integrated Chatbot and the deployment of Digital Customer Support System were negatively correlated and unlikely to have a significant effect on the bank's performance. It is recommended that organizations integrate the use of artificial intelligence into banking processes to assist individuals in overcoming obstacles, rigours, and stress in the workplace, thereby increasing employee satisfaction and productivity.