An Evaluation of the Role of Artificial Intelligence in Financial Decision-Making: A Case Study of Sterling Bank
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Background of the Study
Artificial Intelligence (AI) is transforming the financial services industry by enabling more efficient and accurate decision-making processes. AI technologies, such as machine learning, natural language processing, and predictive analytics, are increasingly being adopted for tasks ranging from credit scoring to fraud detection (Ajayi & Adekunle, 2023).
Sterling Bank, one of Nigeria’s leading financial institutions, has been at the forefront of integrating AI into its operations. By leveraging AI-powered solutions, the bank aims to enhance its financial decision-making capabilities, improve customer experience, and maintain a competitive edge in the dynamic financial sector (Ogunleye & Eze, 2024).
This study evaluates the role of AI in financial decision-making within Sterling Bank, exploring its benefits, challenges, and implications for the broader financial industry in Nigeria.
Statement of the Problem
Despite the growing adoption of AI in financial decision-making, challenges such as data quality, lack of technical expertise, and ethical concerns hinder its full potential. In Nigerian banks like Sterling Bank, these challenges are compounded by infrastructure deficits and regulatory uncertainties (Okon & Balogun, 2025).
There is limited empirical research on how AI impacts financial decision-making in the Nigerian context, particularly at Sterling Bank. This study seeks to address this gap by assessing the effectiveness and challenges of AI implementation in financial decision-making.
Objectives of the Study
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To assess the role of AI in enhancing financial decision-making at Sterling Bank.
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To identify the challenges associated with AI adoption in financial decision-making.
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To evaluate the impact of AI on operational efficiency and customer satisfaction at Sterling Bank.
Research Questions
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How does AI enhance financial decision-making at Sterling Bank?
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What challenges are associated with the adoption of AI in financial decision-making?
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What is the impact of AI on operational efficiency and customer satisfaction at Sterling Bank?
Research Hypotheses
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AI does not significantly enhance financial decision-making at Sterling Bank.
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Challenges associated with AI adoption do not significantly affect its implementation in financial decision-making.
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AI adoption does not significantly impact operational efficiency and customer satisfaction at Sterling Bank.
Scope and Limitations of the Study
The study focuses on the role of AI in financial decision-making at Sterling Bank from 2018 to 2024. Limitations include restricted access to proprietary AI algorithms and potential biases in respondents’ evaluations.
Definitions of Terms
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Artificial Intelligence (AI): The simulation of human intelligence processes by machines, particularly computer systems, for tasks such as decision-making and problem-solving.
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Financial Decision-Making: The process of making strategic choices related to financial resources, investments, and operations.
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Operational Efficiency: The ability of an organization to deliver services effectively with minimal resource wastage.
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