Impact of Chatbot Service on Bank Performance Based on a Case Study of IBM Corporation

Abstract

Exploring the impact of chatbot on bank performance helps to identify the potential of this technology to revolutionize the bank's business model and enhance customer experience, while it can improve employee efficiency and provide a scientific basis and guidance for bankers to effectively respond to the increasing competitive market and achieve bank performance growth and sustainable development. This paper delineates the definitions of chatbot and business performance, provides an overview of current research, and examines the influence of chatbots on bank performance. Furthermore, it utilizes IBM's chatbot as a case study to investigate its impact on banking performance, focusing primarily on cost reduction, enhanced customer satisfaction, and improved employee efficiency. At the same time, the banking industry also faces the negative risk impact of chatbot, which mainly includes perceived risk, security threat and moral risk. The paper also concludes with recommendations on the negative risk impacts of smart customer service. This study links chatbot with bank performance to fill the research gap. It also provides an outlook and suggestions for the future development prospects of chatbot in the banking industry.