IoT and AI for Real-Time Customer Behavior Analysis in Digital Banking

This research tracks and evaluates consumer use of several online banking systems using Electrical gadgets that are linked together and use artificial intelligence (AI) and the internet of things (IoT). Banks could be able to get a lot of data about how consumers engage with them, what they like, and what they purchase by means of Internet of Things (IoT) sensors in smartphones, wearable electronics, and other linked products. This data can be rapidly handled and examined using cutting-edge Machine learning (ML) and natural language processing (NLP) are two types of AI. Therefore providing insightful analysis on customer behaviour. Armed with this knowledge, financial institutions will be more adept in spotting frauds, simplifying procedures, reducing risks, and customer service enhancement. This paper investigates the use of artificial intelligence and the Internet of Things to examine consumer behaviour in digital banking as it is right now as well as potential issues and benefits. This approach of doing things might revolutionise the banking industry and enable companies to gradually establish closer bonds with their customers.