The Importance of Artificial Intelligence Technology for Corporate Training and Development in the Banking Industry:

Abstract

In corporate training and development, Artificial Intelligence (AI) has become a game-changer, especially in the banking sector. AI-driven training initiatives provide creative ways to boost staff competencies, advance learning approaches, and streamline corporate training procedures as financial institutions negotiate a quickly changing environment. AI-powered training programs can boost productivity, customize learning, and guarantee rigorous adherence to legal requirements by utilizing machine learning, natural language processing, and data analytics. This provides a thorough analysis of the literature on AI's function in workforce development, looking at important studies that show how it affects decision-making, skill development, and overall productivity in the banking industry. Learning management systems powered by AI can customize content to meet the needs of each employee, including interactive simulations and real-time feedback to increase retention and engagement. Furthermore, HR personnel can create customized training plans thanks to AI's capacity to evaluate employee performance data, which promotes ongoing professional growth. Beyond skill development, AI is changing HR procedures by automating performance reviews, expediting hiring, and improving employee engagement with chatbots and virtual assistants. This review identifies new trends and gaps in AI-driven training solutions by examining pertinent ideas, methodological approaches, and empirical data. Along with providing insights into best practices for AI integration, it also addresses the strategic ramifications of AI adoption for banking institutions and HR experts. In addition to outlining potential study directions to further our understanding of AI's role in influencing workforce development in the banking industry, the article ends with suggestions for utilizing AI in corporate training.