Advantages of Artificial Intelligence for Banking Sector

Running head: RESEARCH PROPOSAL 0
ADVANTAGES OF ARTIFICIAL INTELLIGENCE FOR BANKING SECTOR
Name of the Student: Kevin CHUMUN
Name of the University: UOS – RKC
Student ID: @00545586
6Th February 2020

RESEARCH PROPOSAL 1
Contents
Introduction................................................................................................................... 3
Research aim............................................................................................................. 3
Research Objectives................................................................................................... 4
Research Questions................................................................................................... 4
Outline of organization of study-.................................................................................... 4
Introduction............................................................................................................ 5
Literature review...................................................................................................... 5
Research methodology............................................................................................ 5
Foreseen limitations................................................................................................. 5
Research schedule.................................................................................................. 6
Results and discussion............................................................................................. 6
Conclusion and recommendation............................................................................... 6
Literature review............................................................................................................ 6
Meaning of artificial intelligence (AI)-............................................................................. 6
Relevancy of artificial intelligence in today’s world-..........................................................7
Use of artificial intelligence (AI) in banking sector-...........................................................7
Advantages and disadvantages of artificial intelligence in banking sector-...........................8
Future of artificial intelligence in the banking sector-........................................................8
Research methodology................................................................................................... 8
Research philosophy................................................................................................... 8
Research approach..................................................................................................... 9
Research design........................................................................................................ 9
Research strategy...................................................................................................... 9
Data collection method................................................................................................ 9
Sampling method....................................................................................................... 9
Data analysis method................................................................................................ 10
Foreseen Limitations -.................................................................................................. 10
Research schedule...................................................................................................... 10
Conclusion and recommendation................................................................................... 11
References................................................................................................................. 12

RESEARCH PROPOSAL 2
Introduction
This project proposal discusses the chosen topic of ‘advantages of artificial intelligence
(AI) for the banking sector’. The main purpose of this proposal is to convince the reader
of the value of the project as well as outline the approaches that will be taken to carry
out the investigation. The proposal will discuss some pertinent factors in relation to the
advantages of artificial intelligence for the banking sector, and more specifically retail
banking, as well as any reported benefits from the use of AI.
This research proposal defines the research question, research aim, research
objectives, and research questions in first chapter. In next chapters, the research
proposal also states the literature review, methodology, foreseen limitations, research
schedule, results, and discussion. The research methodology section will describe the
decision to choose methods that will be required for making research effectively and
accurately. The part of researcher methodology includes research approaches,
research philosophies, research strategies, sampling, and data collection method.
Research aim
The main aim of this research is to develop the understanding related to the term ‘AI for
the banking sector’. AI is being used to proactively review as well as prevent numerous
examples of money laundering, fraud, misconduct as well as the exposure of potential
risk. It deals with larger formless data, critical mathematical formulas along with models.
It also deals with automate task applications in the securities. This research will
therefore examine the subject in relation to how AI is being used and the specific
challenges that may exist within the retail banking sector.

RESEARCH PROPOSAL 3
Research Objectives
It is essential for the researcher to evaluate real objectives of the research because it
helps to conduct research effectively. The objectives of research are discussed below-
● To develop an understanding of the term ‘AI’
● To understand the use of AI in today’s world
● To explore relevance of AI in the banking sector
● To discover advantages and disadvantages of AI in banking sectors
● To explore future of AI in the banking sector
Research Questions
Following are the research questions-
 What is AI?
 What is the current use of AI in banking sector?
What is the future of AI in the banking sector Outline of organization of study-
The proper and well-organised structure of research is utilised for obtaining research
objectives in an effective manner. The outline of organisation this study is defined as
follows.-