Horizontal and Vertical Value Creation in Bankrobotics and the AI-Washing Phenomenon

Abstract

Artificial intelligence, machine learning, intelligent robots and related innovative technologies are emerging as driving forces that are reprogramming the traditional remnants of the banking sector. The purpose of this groundbreaking study is to localise the concept of bankrobotics, clarify the conceptualisation of bankrobotics technologies and analyse their applications in banking. Their value creation is interpreted along vertical and horizontal dimensions. On the basis of in-depth interviews, the approach and implementation of their organisational adoption are discussed, along with the factors inhibiting value creation. The author proposes the classification of partner chain-based AI systems, the introduction of incident databases and the establishment of disclosure obligations regarding investments in bankrobotics, to avoid the spread of the AI-washing phenomenon in the banking sector.