AI-DRIVEN INNOVATION IN BANKING – THE CASE OF COGNITIVE RPA

Abstract

Purpose: The aim of this article is to characterize the determinants and effects of implementing disruptive artificial intelligence (AI) innovations in banking operations, particularly regarding AI’s relevance to the development of a new generation of robotic banking process automation systems (i.e., cognitive RPA). Design/methodology/approach: Based on a comparative analysis of the literature and an empirical comparison of leading banks in the European Union, this article highlights the main areas of innovative improvement in banking activities through cognitive RPA applications and examines their potential to radically streamline future banking operations. Findings: The analysis of AI innovation has found that cognitive RPA is dramatically transforming banking processes. In practice, cognitive RPA enables banks to achieve higher levels of efficiency across all dimensions of their operations, particularly in optimizing the management of a bank's wide range of risks. Originality/value: Given the still nascent stage of AI innovation and its implementation in banking, this article combines the theoretical foundations of artificial intelligence with empirical examples from leading European banks, presenting a research area that has not yet been addressed in Polish literature and remains underexplored in global literature.