Digitalization of Banking Processes: Chat-Bot as a Service

In the times of the digital economy, it is necessary for companies to introduce digital technologies in order to be competitive. Artificial intelligence is one of the main digital processing technologies. Artificial intelligence is based on the idea of a machine imitating human actions therefore, chatbots are a fairly logical application of artificial intelligence capabilities. The introduction of AI-based chatbots into the organization's workflows is beneficial solution for the company, since it frees up a large amount of human resources that can be used for higher-priority tasks. The purpose of this study is to develop recommendations for the implementation and development of chatbots in a bank to provide services to individuals. Research objectives: • Make an overview of the concept of digitalization and its trends in the banking sector • Study scientific literature on the technological foundations of chatbots and the history of their development • Identify the risks and limitations of this technology • Consider cases of using chat bots in banks • Develop recommendations for the implementation of chatbots in banks The tasks are set in such a way in order to consistently understand the concept of "digitalization", its aspects in the banking sector, then study in detail the technological foundations of chat bots to form an understanding of the principles of the technology and then analyze the solutions available on the market and develop on the basis of the studied technological base recommendations for the implementation of this technology in the bank. When developing the recommendations, we used our own conclusions and conclusions from works on similar topics by other researchers. Having consistently completed all the tasks set, the goal of the work was completed - recommendations were developed for the implementation of chat bots in the bank. In addition, the developed recommendations may be relevant when implementing chatbots in other business sectors.