A Systematic Review of The Application of AI in Banks Through Bibliometric Analysis; Research Trends and Patterns

Abstract

Financial institutions including banks in particular, are increasingly adopting artificial intelligence (AI) solutions to enhance service standard and adapt to evolving market dynamics. AI impacts various banking aspects from customer service, risk management, operational efficiency and regulatory compliance. The study aims to provide insights that will guide future research and promote the sustainable growth of this rapidly developing field while also identifying gaps and unexplored areas. Therefore, this paper employed bibliometric analysis, using VOSviewer to analyze multiple scholarly items from Scopus, to comprehensively examine the role of AI in banking (AIB). Keywords were used in the Scopus database, and 1784 articles meeting the inclusion and exclusion criteria were selected. Publication trend, keyword analysis, co-citation & bibliometric analysis were undertaken.  By examining academic literature through citation analysis, network and density visualizations, and trend assessments, this study identified significant themes and patterns in the implementation of implementing AI within the banking industry. The findings offer valuable information for banking professionals and planners. From the findings in this paper, future studies could focus on more usage of the technology in the BFSI space.