AI Implementation in Burgan Bank

This article discusses the implementation of Artificial Intelligence (AI) in Burgan Bank and its impact on customer experience, processes and operations, and business models. It highlights the challenges faced and the steps taken by leaders to ensure successful implementation. The article also explores the use of AI in the banking industry and its potential benefits.

Running head: AI IMPLEMENTATION IN BURGAN BANK
AI IMPLEMENTATION IN BURGAN BANK
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AI IMPLEMENTATION IN BURGAN BANK
Table of Contents
A problem that is present in the Banking industry that is inspired by Digital Maturity
Assessment.......................................................................................................................2
Highlight how they will be impacting customer experience...............................................2
Highlight how they will be impacting Processes and Operations......................................3
Highlight how they will be impacting Business Models....................................................4
Challenges faced...............................................................................................................4
Steps taken by leaders......................................................................................................5
References.........................................................................................................................6

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Chosen digital transformation technology
The digital transformation technology that is to be implemented is Artificial Intelligence.
A problem that is present in the Banking industry that is inspired by Digital
Maturity Assessment
The problem that is present in today’s Banking industry includes providing proper
plans to the clients and users. It is seen that the clients often face difficulties in choosing
the investment plans. This issue needs high attention. 3 local use cases for digital
transformation technology in banking industry
Highlight how they will be impacting customer experience
Implementation of Artificial Intelligence provides a proper assessment of needs
and preferences of the clients. This implementation of technology of Artificial
Intelligence in Burgan Bank will ensure that they will be able to attract new clients. This
will ensure that expansion of clients and hence wise higher revenue collection will be
expected. With the help of usage of AI in the Burgan Bank launching of new services
will be getting easier. There are 3 important aspects that are to be considered. This
section is basically emphasized on Data Unification, Real Time Insights Delivery,
Business contexts. Data unification is primarily focused on creation of single customer
view. Performing behavioral analytics have been the major concern of this section
(Corea 2019). The journey of the client throughout the year helps in tracking the
behavior of the client. This tracking of behavior helps in understanding the demands
and requirement of the individuals. Several data unification tools are to be used in the
section. This is the main reason that Burgan Bank will not be facing much difficulties in

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implementing the same. Another major aspect that is considered is Real time insight
delivery. In this section each and every touch of the client is analyzed. This leads to the
fact that even the intention of the employees are checked. This understanding of the
intention of the employees will be helping in framing of the requirement of the clients
(Fernández, González & Suárez 2016). Gaining touch point also helps in understanding
the popularity of the existing investment policies of Burgan Bank Kuwait. Hence wise
modification in the investment policies can be implemented. With the help of the
analysis of the customer journey and the data gathered from the touch points, proper
analysis of the customer requirement can be made and hence wise proper performance
can be provided. These are the major aspects that will be impacting the customer
experience (Acemoglu & Restrepo 2018). AI will be providing tailored services to the
clients. With proper analysis of the client requirement and understanding their demands
in person basis will be helping personalized service can be provided.
Highlight how they will be impacting Processes and Operations
Introduction of AI in the operations and process section ensures that introduction
of chatbots will be increasing in the banking sector (Alwan & Al-Zubi 2016). Hence wise,
Burgan bank of Kuwait will be processing the functioning of chatbots. Chatbots are
automated chat programs that functions in both predetermined path and also takes
decision after gathering ample data. Chatbots are considered as an efficient way of
providing instant service to the clients throughout the day. Another aspect that is to be
considered is that data transaction made via chatbots (Castelli, Manzoni & Popovič
2016). This usage of chatbots will ensure that the data that will be transacted via them
will be well recorded and hence wise the recorded data can be used for analysis

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purpose. This will again help in bettering of the operational process. Another aspect that
will be benefitting the operational process is by providing personalized guidance to the
clients which will be bettering the market stature. Implementation of AI will ensure that
there will be an Interactive voice response system which will be helping in performing
proper interaction with the clients. This will help in understanding the issues present in
the process (Klaas & Daryakin 2016). This process will also be benefitting the
operational process.
Highlight how they will be impacting Business Models
There will be 2 major changes that will be seen in case of the business model of
Burgan Bank due to the incorporation of AI in the business process. The major change
that will be seen is that the operational process will be facing highest alteration. In case
of operations Burgan Bank will be getting more independent. With the help of AI the
main aspect that is to be considered is that AI will be acting as the focal point of the
function. This will ensure that the data transaction and communication process will get
performed with the help of AI and the elimination of manual data transaction process will
be increasing the accuracy of data transaction process (Jagtiani, Vermilyea & Wall
2018). Another change that will be marked includes proper answering of the clients in
real time, hence wise increasing efficiency of the functioning process.
Challenges faced
3 challenges faced: -
The three major challenges that will be faced are as follows: -

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AI IMPLEMENTATION IN BURGAN BANK
 The major challenge that is faced due to the implementation of AI is that the
employees who are already present in the Burgan Bank are not aware of the
technology that is being implemented. This will lead to the fact that the
employees might not perform in a proper manner and hence efficiency will be
lessening.
 Another major aspect that is to be considered is that there are security related
issues. In case of implementation of AI in the banking sector, data gathering and
analysis is performed. This process of data collection and analysis leads to
storage of data in the database. This ensures that the data that are stored might
get accessed by the imposters and hence wise access can be gained. This will
lead to data breaching. This will be affecting the good will of the Burgan Bank.
 Another major challenge that will be faced is that the initial cost that will be
incurred in implementation of AI.
Steps taken by leaders
Steps that are to be taken by Leaders are as follows: -
 Proper training sessions are to be arranged. With setting of proper training
sessions the employees will be gaining proper knowledge regarding the AI
functioning.
 Implementation of firewall system in the database will also be helping in
bettering of the security system of the database.
 Proper budgeting is to be performed regarding the AI implementation.

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References
Acemoglu, D., & Restrepo, P. (2018). Artificial intelligence, automation and work (No.
w24196). National Bureau of Economic Research.
Alwan, H. A., & Al-Zubi, A. I. (2016). Determinants of internet banking adoption among
customers of commercial banks: an empirical study in the Jordanian banking
sector. international journal of business and management, 11(3), 95.
Castelli, M., Manzoni, L., & Popovič, A. (2016). An artificial intelligence system to predict
quality of service in banking organizations. Computational intelligence and
neuroscience, 2016.
Corea, F. (2019). Applied artificial intelligence: Where AI can be used in business.
Springer.
Fernández, A. I., González, F., & Suárez, N. (2016). Banking stability, competition, and
economic volatility. Journal of Financial Stability, 22, 101-120.
Jagtiani, J., Vermilyea, T., & Wall, L. D. (2018). The Roles of Big Data and Machine
Learning in Bank Supervision.
Klaas, J. A., & Daryakin, A. A. (2016). The indicative model of financial stability
management of the banking sector. Academy of Strategic Management
Journal, 15, 43.