Impact of Artificial Intelligence on the Albanian Banking System

Abstract

This paper investigates the impact of Artificial Intelligence (AI) within the Albanian banking sector by exploring the dynamic landscape shaped by the fusion of advanced technologies and financial services. The research paper handles a comprehensive approach encompassing technological applications and the ensuing socio-economic consequences. Additionally, the paper emphasizes the role of AI in automating daily processes, enhancing customer experiences, and fortifying security measures. Through a qualitative and quantitative analysis, the research aims to provide a detailed overview of the AI landscape in Albanian banking. In conclusion, this paper sheds light on the multifaceted impact of AI in the Albanian banking system, offering a comprehensive understanding of the evolving landscape. As financial institutions embark on the journey of digital transformation, this study endeavours to guide strategic decisions, inform regulatory policies, and pave the way for a resilient and technologically adept banking sector in Albania.

Received: 2 June 2024 / Accepted: 25 July 2024 / Published: 29 July 2024