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| Artificial Intelligence Adoption and Organizational Performance of Money Deposit Banks in Rivers State, Nigeria
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Eketu Continue Anddison Esq. Dr. Blessing Nwiyii Joseph Dr. Micah Nyone Uelee
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Abstract:
The study investigated the relationship between Artificial Intelligence adoption and organizational performance of Money Deposit Banks in Rivers State. The objective of the study was to empirically investigate how Artificial Intelligence relates with organizational performance of Money Deposit Banks in Rivers State in terms of customer satisfaction, economic performance and effective decision making. The study utilized the cross-sectional exploratory survey research design. The population of the study consisted of twenty-two (22) deposit money banks in Rivers State. The sample size of the study consisted of one hundred and ten (110) top managers from the head office of the individual deposit money banks (22 banks). The above sample size was conveniently selected by selecting five (5) top managers from the headquarters of each of the banks. The selected top managers included General Managers, ICT Manager, Operations Manager, Marketing Manager, and Customer Relations Manager. One hundred and ten (110) copies of the questionnaire were distributed to the target sample elements. However, the researcher was able to retrieve 97 copies of the distributed questionnaires. The test of hypotheses was done using Spearman's Rank Order Correlation Coefficient via the Statistical Package for Social Sciences (SPSS) version 20.0. The Spearman's (rho) correlation was used to analyze the relationship between independent and dependent variables at P < 0.05 (two-tailed test). The study revealed the following: i. Artificial Intelligence has a very strong positive correlation with customer satisfaction of Money Deposit Banks in Rivers State; ii. Artificial Intelligence has a strong positive correlation with economic performance of Money Deposit Banks in Rivers State, and iii. Artificial Intelligence has a very strong positive correlation with effective decision making of Money Deposit Banks in Rivers State. By way of conclusion, the adoption of Artificial Intelligence in the business of banking is a viable way to go if a bank such as money deposit bank wants to improve in customer satisfaction, economic performance and effective decision making, among other things. Among others, the study recommended that in order to increase the functionality of artificial intelligence in the banking industry, particularly in the areas of economic performance and effective decision making, research should be conducted to assess how well it can be continuously adapted to the ever-changing and dynamic financial business environment.
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