Paper Key : IRJ************082
Author: Chhavi Jain ,Manav Patel
Date Published: 05 Apr 2025
Abstract
The revolutionary effects of automation on the banking sector are examined in this study report. Automation is changing banking processes, increasing efficiency, and improving client experiences. It is powered by technologies like robotic process automation (RPA), artificial intelligence (AI), and machine learning (ML). The study examines the advantages, difficulties, and potential developments of automation in this industry. Increased operational effectiveness, cost savings, enhanced customer satisfaction, and improved risk management are among the main conclusions. But the report also discusses issues including ethical concerns, job dislocation, and cybersecurity threats. The study ends with suggestions on how banks can successfully implement and oversee automation, guaranteeing a safe, effective, and client-focused banking environment. Keywords: digital transformation, automation, robotic process automation, artificial intelligence, and machine learning; banking industry