Title: ASSESSING THE IMPACT OF AI TOOLS ADOPTION ON THE FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
Authors:
Ahmad Muhammad Ahmad (Ph.D.), Sunday, Joseph Inyada (Ph.D.) and Mustapha Yakubu
Abstract:
For an entity to meet up with competitors in this era of rapid changing business strategies and achieve its desired goals in the 21st Century, embracing technology advancement remains one of the key steps to be taken by management of an entity. This study investigates the impact of Artificial Intelligence Tools adopted by listed deposit money banks in Nigeria in order to improve financial performance for a 10 years period (2014-2023). Artificial Intelligence is proxy by chat-bot & virtual assistants, credit scoring and loan risk assessment, and fraud detection and risk management. While financial performance is proxy return on asset and return on equity. The population of the study consist of all the listed deposit money banks in Nigeria, and sample of 5 banks were purposively selected to represent the population. SEM was employed to run the analyses the secondary and primary data of the study. Regression result revealed that all the three independent variables have positive impact of financial performance of listed deposit money banks in Nigeria. The study recommends that banks should intensify in investing in chat-bot, they should carry on with adoption and refine chat-bot systems to improve the interaction of client efficiency in operationalization.
Keywords: Artificial tools, financial performance, chat-bot, fraud detection, credit scoring.
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