AI IN BANKING: SOCIO-ECONOMIC ASPECTS

Artificial intelligence is revolutionising the banking sector, offering a range of benefits such as enhanced customer support, improved fraud detection and more informed decision-making. Banks are using AI technologies to optimise their operations, improve customer service, and proactively manage risks, leading to increased efficiency and productivity. The article is devoted to the issue of studying the use of artificial intelligence in the banking sector. The purpose of the article is to explore the potential of artificial intelligence for the banking sector. The article uses methods of data analysis and synthesis, systematisation and comparison. The article uses statistical data from the World Bank, the State Statistics Service of Ukraine and other official websites. The authors analyse the positive and negative aspects of the use of artificial intelligence in the banking system. Artificial intelligence technologies allow banks to process large amounts of structured and unstructured data to predict market trends, gain insights and identify investment opportunities, which ultimately leads to better decision-making. In banking, the main purpose of AI is to help consumers by prioritising their choices. AI also helps to ensure that customers are satisfied with the bank's services. The paper presents a statistical analysis of GDP growth, inflation and public debt in some countries of the world. With the emergence and spread of FinTech and DeFi technologies and the introduction of CBDC, the system of control and regulation of cash flows is becoming more complex. The practical value of the publication lies in the authors' recommendations on the application of artificial intelligence in the banking sector. The authors suggest ways to maximise the positive effect of artificial intelligence in the banking sector.