Economic Bulletin of the National Mining University

 

IssuesSectionsAuthorsKeywords

Article

Issue:2023 №2 (82)
Section:Finances, accounting and taxation
UDK:338.1
DOI:https://doi.org/10.33271/ebdut/82.119
Article language:Ukrainian
Pages:119-127
Title:Artificial intelligence implementation in ukrainian banks: perspectives and limitations
Authors:Solodkyi V. V., State Tax University,
Polishchuk Yu. A., State Tax University
Annotation:Methods. During the research, the method of scientific abstraction was applied – to define the concept of «artificial intelligence»; analysis and synthesis – when identifying the functional capabilities of artificial intelligence; comparison – to determine the level of use of artificial intelligence systems in Ukrainian banks. Results. The article examines the genesis of algorithms of generative artificial intelligence (AI) from the point of view of the prerequisites for its appearance, development and impact on economic and financial agents. It was determined that artificial intelligence is the main factor in revitalizing economic growth and a strategic advantage in the long term. The current state of implementation of AI tools in the activities of Ukrainian banks in comparison with foreign banks is analyzed. For further development, commercial banks are suggested to create joint projects with scientific institutions, technological companies regarding training and adaptation of models for clients of financial institutions and parallel implementation of algorithms in internal bank processes, including search, adaptation and development of personnel, marketing, internal information technologies and processes or in the event of sufficient financial resources, the creation of intra-bank divisions for the development of AI. The transition to innovative types of services will also require financial institutions to communicate properly with clients. Novelty. The level of use of artificial intelligence systems in Ukrainian banks was determined. According to the results of the study, it was determined that the key factor that negatively affects the introduction of new technologies is the high cost of investments in the preparation of models and the selection of teams. Other challenges relate to the regulation of relations with consumers of financial services and insufficient attention from the regulator. Practical value. Applied research results are focused on taking into account the specific positions and opportunities of the enterprise's competitive potential when evaluating the effectiveness of its innovative activities. 
Keywords:Artificial intelligence, Commercial bank, Large language model, Fourth technological order, Innovation, Transformation, Consumer behavior
File of the article:EV20232_119-127.pdf
Literature:
  • 1. Paul Krugman. Does ChatGPT Mean Robots Are Coming For the Skilled Jobs? Retrieved from https://www.nytimes.com/2022/12/06/opinion/chatgpt-ai-skilled-jobs-automation.html
  • 2. Ziao Wang, Jianning Wang, Junda Wu, Xiaofeng Zhang. An Effective Data Creation Pipeline to Generate High-quality Financial Instruction Data for Large Language Model. Retrieved from https://arxiv.org/pdf/2308.01415.pdf
  • 3. Ziao Wang, Jianning Wang, Junda Wu, Xiaofeng Zhang. An Effective Data Creation Pipeline to Generate High-quality Financial Instruction Data for Large Language Model. Retrieved from https://arxiv.org/pdf/2308.01415.pdf
  • 4. Robert Capra, Jaime Arguello. How does AI chat change search behaviors? Retrieved from https://arxiv.org/pdf/2307.03826.pdf
  • 5. Xuan-Quy Dao. Performance Comparison of Large Language Models on VNHSGE English Dataset: OpenAI ChatGPT, Microsoft Bing Chat, and Google Bard. Retrieved from https://arxiv.org/pdf/2307.08272.pdf
  • 6. Lixiang Yan, Lele Sha, Linxuan Zhao, Yuheng Li, Roberto Martinez-Maldonado, Guanliang Chen, Xinyu Li, Yueqiao Jin, Dragan Gašević. Practical and ethical challenges of large language models in education: A systematic scoping review. DOI: https://doi.org/10.1111/bjet.13370
  • 7. Pizhuk, O.I. (2019). Shtuchnyi intelekt yak odyn iz kliuchovykh draiveriv tsyfrovoi transformatsii ekonomiky. Ekonomika, upravlinnia ta administruvannia. DOI: https://doi.org/10.26642/jen-2019-3(89)-41-46
  • 8. Kholiavko, N., Sadchykova, I., & Kolotiuk M. (2023). Napriamy vykorystannia shtuchnoho intelektu u bankivskykh ustanovakh. Problemy i perspektyvy ekonomiky ta upravlinnia, 2(34), 192-203. Retrieved from http://ppeu.stu.cn.ua/article/view/286675/280534. DOI:
  • 10.25140/2411-5215-2023-2(34)-192-203
  • 9. Zaionts, A.V. (2020). Pidvyshchennia konkurentospromozhnosti banku na kredytnomu rynku za rakhunok uprovadzhennia innovatsii na osnovi Big Data ta tekhnolohii shtuchnoho intelektu. Vcheni zapysky TNU imeni V. I. Vernadskoho, Ser. : Ekonomika i upravlinnia, T. 31(70), (4), 69-75. DOI: https://doi.org/10.32838/2523-4803/70-4-38
  • 10. Bernard Mar. The Top 10 Limitations Of ChatGPT. Retrieved from https://www.forbes.com/sites/bernardmarr/2023/03/03/the-top-10-limitations-of-chatgpt/?sh=e4f1ad98f355
  • 11. Sophia Yang. The Abilities and Limitations of ChatGPT. Retrieved from https://www.anaconda.com/blog/the-abilities-and-limitations-of-chatgpt
  • 12. Joseph Briggs, Devesh Kodnani. Generative AI could raise global GDP by 7%. Retrieved from https://www.goldmansachs.com/intelligence/pages/generative-ai-could-raise-global-gdp-by-7-percent.html
  • 13. McKinsey Survey. The state of AI in 2023: Generative AIs breakout year. Retrieved from https://www.mckinsey.com/capabilities/quantumblack/our-insights/the-state-of-ai-in-2023-generative-ais-breakout-year
  • 14. Kreger Alex. The Future Of AI In Banking. Retrieved from https://www.forbes.com/sites/forbesbusinesscouncil/2023/03/20/the-future-of-ai-in-banking/?sh=4df08d6b5ed5
  • 15. Krunoslav Ris, Zeljko Stankovic, Zoran Avramovic. Implications of Implementation of Artificial Intelligence in the Banking Business with Correlation to the Human Factor. Journal of Computer and Communications, Vol.8 No.11, 11.2020. DOI: https://doi.org/10.4236/jcc.2020.811010
  • 16. EVIDENT AI INDEX RANKINGS. Retrieved from https://evidentinsights.com/ai-index/
  • 17. JPMorgan Chase&Co. Annaul report 2022. Re- trieved from https://www.jpmorganchase.com/content/dam/jpmc/jpmorgan-chase-and-co/investor- relations/documents/annualreport-2022.pdf
  • 18. Richnyi zvit AT «Pryvatbank». Retrieved from https://static.privatbank.ua/files/dod1_01052023_2022.pdf?_gl=1*16u6j9e*_ga*NTU4OTU1MzYyLjE2OTEyNjAzMzM.*_ga_C7N2L9YCQ9*MTY5NTQ1Mzc1My4yLjAuMTY5NTQ1Mzc1My42MC4wLjA.
  • 19. Richnyi zvit AT «Oshchadbank». Retrieved from https://www.oschadbank.ua/uploads/2/10872-oschadbank_2022_fs_conso_ukr.zip
  • 20. Richnyi zvit AT «Rayfayizenbank». Retrieved from https://raiffeisen.ua/storage/files/raiffeisen-bank-22fsu-separate-isa-with-signatures.pdf
  • 21. Richnyi zvit AT «PUMB». Retrieved from https://about.pumb.ua/content/cmsfile/ua/%D1%84%D1%96%D0%BD%D0%B0%D0%BD%D1%81%D0%BE%D0%B2%D0%B0%20%D0%B7%D0%B2%D1%96%D1%82%D0%BD%D1%96%D1%81%D1%82%D1%8C__fuib_22fsu_isa_with%20signatures.pdf?v=638187983750048055
  • 22. Stratehiia Natsionalnoho banku Ukrainy. Finansova fortetsia Ukrainy. Retrieved from https://bank.gov.ua/ua/about/strategy
Home Archive Copyright © 2024 Economic Bulletin of the National Mining University. All Rights Reserved. Designed by JoomlArt.com. Joomla! is Free Software released under the GNU General Public License.