CHATBOTS AND CUSTOMER EXPERIENCE IN BANKING INDUSTRY: A DESCRIPTIVE STUDY

Artificial Intelligence has surpassed humans at completing several difficult tasks as AI is faster than humans in processing vast volumes of information. The most popular AI trend at the moment is using "Chatbots". Chatbots are an effective tool that banks use to improve customer interactions and enhance customer experience. Study takes the objective to document the effectiveness of chatbots across various parameters, including response time, accuracy, customer satisfaction, cost reduction, scalability, and data collection and customer experience with chatbots in terms of the quality of the system, the accuracy and relevance of the information provided, and the overall level of service. The study employed descriptive research design and based on secondary data from various journals, articles and websites. The study offers insights into the benefits and challenges of integrating chatbots into banking through an analysis of the corpus of research on chatbots and customer experience.