Chief Executive Officer of UMB Bank, Nana Dwemoh Benneh has highlighted some benefits of integrating Artificial Intelligence (AI) into the banking sector.

According to him, the emerging technology, when well implemented, has the potential to improve and detect customers’ needs in a secure and efficient manner.

Speaking in an interview with GhanaWeb Business on May 9, Nana Benneh said AI for instance can reduce the work-load of banking staffing who often spend a lot of time doing paperwork.

“I think that AI presents a perfect opportunity for most people who work in banks to focus on how to significantly improve customer interaction and focus on actually speaking to the needs of customers, advising them about the various products and services available thereby allowing for AI to do the repetitive operational work because before AI, a lot our bank staff had to spend time doing paperwork,” Nana Benneh explained.

He added that AI can further reduce the time customers spend in the banks while also ensuring banking staff can operate without being under too much duress.

Since the emergence of AI, there have been some concerns that the technology could soon wipe out jobs in key sectors of the global economy such as constructions, banking and finance, technology among others.

But most banking experts believe that AI will rather present a unique opportunity that allows banks to better understand and provide the requisite needs for their customers base.

MA/FNOQ