Critical Literature Review: The Impact of Organizational Learning Cultures and Psychological Climate on Artificial Intelligence Adoption and Implementation in Australian Banks in NSW Region

Abstract

Artificial Intelligence indeed reaches out to transform industries at an industrial scale: health, manufacturing, retail, and mainly in banking. Now, the Impact of AI on Banks is deep; propelling new technologies significantly improves the overall operational efficiency, customer experience, and does create that much-needed competitive advantage for financial organizations willing to make the necessary adjustments to integrate those new technologies. The trend is that there are banks using AI in almost all activities throughout the entire institution, and some of the most common tasks involve automation of routine processes, personalization of customer interactions, simplification of complex decisions in terms of fraud detection, credit scoring, and risk management. The focus of AI adoption in the Australian banking sector, particularly in the New South Wales (NSW) region, has highlighted the reliance on cutting-edge innovation for growth and strategy. Fast and strategic increase in the reliance on AI technologies would throw a paradigm shift paradigm within the sector from traditional, human-cantered practices in banking towards more data-driven and automated, therefore, technology-centric approaches.