Artificial Intelligence in Banking sector: Evidence from Bahrain

Abstract

Recently, there has been a strong wave of digital transformation to the banking sector worldwide. In this paper, we explore using one of the emerging technologies, being Artificial intelligence, in banks in Bahrain. We find that only a few banks have utilized Artificial intelligence applications and that the robotic process automation and chatbots are the most employed Artificial intelligence applications. Furthermore, the findings highlight that the Central Bank of Bahrain has given a high priority to the digital transformation journey in banks, which suggests that further development and implantation of technology in banks will be seen in the near future.