[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-detail-120189-en":3,"doc-seo-120189-105":30,"detail-sidebar-cat-0-en-105":95},{"code":4,"msg":5,"data":6},0,"success",{"doc_id":7,"user_id":8,"nickname":9,"user_avatar":10,"doc_module":4,"category_id":11,"category_name":12,"doc_title":13,"doc_description":14,"doc_content":15,"file_id":16,"file_url":17,"file_type":18,"file_size":19,"view_count":4,"is_deleted":4,"is_public":20,"is_downloadable":20,"audit_status":20,"page_count":21,"language":22,"language_code":23,"site_id":24,"html_lang":23,"table_of_contents":25,"faqs":26,"seo_title":27,"seo_description":14,"update_tm":28,"read_time":29},120189,687197207639,"Asher","https://ap-avatar.wpscdn.com/davatar_a8503ba1806abce46bf441b54a3ca4cd",8,"Research & Report","Adoption of Artificial Intelligence and Machine Learning in Banking Systems - A Qualitative Survey of Board of Directors","The study examines how boards of directors in Saudi Arabian banks facilitate the adoption of artificial intelligence and machine learning, and how these technologies contribute to protecting the banking sector from cyberattacks. A qualitative design uses in-depth interviews with 17 directors from prominent Saudi banks. Results highlight benefits for threat detection, fraud prevention, and process automation that support regulatory compliance. Key barriers include limited technological infrastructure, fragmented AI strategies, and ethical risks such as data privacy issues and algorithmic bias, with an emphasis on board-level strategic guidance and alignment with Saudi Vision 2030.","TYPE Brief Research Report PUBLISHED 27 November 2024 DOI 10.3389/frai.2024.1440051  \nOPEN ACCESS  \nEDITED BY  \nAlessia Paccagnini,  \nUniversity College Dublin, Ireland  \nREVIEWED BY  \nLuisa Varriale,  \nUniversity of Naples Parthenope, Italy Ahmed Mohamed Habib,  \nIndependent Researcher, Zagazig, Egypt  \n*CORRESPONDENCE  \nAbdullah Eskandarany  \n [aeskandarany@uj.edu.sa](aeskandarany@uj.edu.sa)  \nRECEIVED 28 May 2024  \nACCEPTED 11 November 2024  \nPUBLISHED 27 November 2024  \nCITATION  \nEskandarany A (2024) Adoption of artificial intelligence and machine learning in banking systems: a qualitative survey of board of directors.  \nFront. Artif. Intell. 7:1440051 .  \ndoi: 10.3389/frai.2024.1440051  \nCOPYRIGHT  \n© 2024 Eskandarany. This is an open-access article distributed under the terms of the  \nCreative Commons Attribution License (CC BY) . The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.  \nAdoption of artificial intelligence and machine learning in banking systems: a qualitative survey of board of directors  \nAbdullah Eskandarany *  \nCollege of Business, University of Jeddah, Jeddah, Saudi Arabia  \nThe aim of the paper is twofold. First to examine the role of the board of directors in facilitating the adoption of AI and ML in Saudi Arabian banking sector. Second, to explore the effectiveness of artificial intelligence and machine learning in protection of Saudi Arabian banking sector from cyberattacks. A qualitative research approach was applied using in-depth interviews with 17 board of directors from prominent Saudi Arabian banks. The present study highlights both the opportunities and challenges of integrating artificial intelligence and machine learning advanced technologies in this highly regulated industry. Findings reveal that advanced artificial intelligence and machine learning technologies offer substantial benefits, particularly in areas like threat detection, fraud prevention, and process automation, enabling banks to meet regulatory standards and mitigate cyber threats efficiently. However, the research also identifies significant barriers, including limited technological infrastructure, a lack of cohesive artificial intelligence strategies, and ethical concerns around data privacy and algorithmic bias. Interviewees emphasized the board of directors’ critical role in providing strategic direction, securing resources, and fostering partnerships with artificial intelligence technology providers. The study further highlights the importance of aligning artificial intelligence and machine learning initiatives with national development goals, such as Saudi Vision 2030, to ensure sustained growth and competitiveness. The findings from the present study offer valuable implications for policymakers in banking in navigating the complexities of artificial intelligence and machine learning adoption in financial services, particularly in emerging markets.  \nKEYWORDS  \nartificial intelligence, machine learning, stakeholder theory, board of directors, banking sector, Saudi Arabia  \n1 Introduction  \nOver the past decade, the financial service industry has witnessed a significant advanced technological transformation, particularly in adopting artificial intelligence (AI) and machine learning (ML; Hilb, 2020; Gonaygunta, 2023) . These advanced technologies have revolutionized the industry, from enhancing strategic decision-making to strengthening cybersecurity measures (Johri and Kumar, 2023) . On the one hand, AI and ML advanced technologies have facilitated and promoted positive trends, such as the digital transformation of business, the development of real-time threat detection, predictive analytics, automated incident response, advanced fraud dete","cbCaisENsC1ywmif","https://ap.wps.com/l/cbCaisENsC1ywmif","pdf",322994,1,11,"English","en",105,"# Introduction\n## Artificial intelligence and machine learning in financial services\n## Cybersecurity risks and cybercrime impact\n# Method and Study Focus\n## Board role in AI/ML adoption\n## Protection against cyberattacks\n# Findings and Implications","[{\"question\":\"What is the paper’s main focus regarding AI and ML in Saudi banks?\",\"answer\":\"It focuses on the board of directors’ role in enabling AI/ML adoption and on how AI/ML can improve protection against cyberattacks in the Saudi banking sector.\"},{\"question\":\"How was the research conducted?\",\"answer\":\"The study uses a qualitative approach based on in-depth interviews with 17 board directors from prominent Saudi Arabian banks.\"},{\"question\":\"What benefits of AI and ML does the study identify?\",\"answer\":\"It identifies substantial benefits in threat detection, fraud prevention, and process automation, helping banks meet regulatory standards and mitigate cyber threats.\"},{\"question\":\"What barriers and ethical concerns are reported?\",\"answer\":\"The paper highlights limited technological infrastructure, lack of cohesive AI strategies, and concerns about data privacy and algorithmic bias.\"}]","Adoption of Artificial Intelligence and Machine Learning in Banking Systems - A Qualitative Survey of Board of Directors | PDF",1785728627,28,{"code":4,"msg":31,"data":32},"ok",{"site_id":24,"language":23,"slug":33,"title":13,"keywords":34,"description":14,"schema_data":35,"social_meta":90,"head_meta":92,"extra_data":94,"updated_unix":28},"adoption-of-artificial-intelligence-and-machine-learning-in-banking-systems-a-qualitative-survey-of-board-of-directors","",{"@graph":36,"@context":89},[37,54,68],{"@type":38,"itemListElement":39},"BreadcrumbList",[40,44,48,51],{"item":41,"name":42,"@type":43,"position":20},"https://docshare.wps.com","Home","ListItem",{"item":45,"name":46,"@type":43,"position":47},"https://docshare.wps.com/document/","Document",2,{"item":49,"name":12,"@type":43,"position":50},"https://docshare.wps.com/document/research-report/",3,{"item":52,"name":13,"@type":43,"position":53},"https://docshare.wps.com/document/adoption-of-artificial-intelligence-and-machine-learning-in-banking-systems-a-qualitative-survey-of-board-of-directors/120189/",4,{"url":52,"name":13,"@type":55,"author":56,"headline":13,"publisher":58,"fileFormat":61,"inLanguage":23,"description":14,"dateModified":62,"datePublished":62,"encodingFormat":61,"isAccessibleForFree":63,"interactionStatistic":64},"DigitalDocument",{"name":9,"@type":57},"Person",{"url":41,"name":59,"@type":60},"DocShare","Organization","application/pdf","2026-08-03",true,{"@type":65,"interactionType":66,"userInteractionCount":4},"InteractionCounter",{"@type":67},"ViewAction",{"@type":69,"mainEntity":70},"FAQPage",[71,77,81,85],{"name":72,"@type":73,"acceptedAnswer":74},"What is the paper’s main focus regarding AI and ML in Saudi banks?","Question",{"text":75,"@type":76},"It focuses on the board of directors’ role in enabling AI/ML adoption and on how AI/ML can improve protection against cyberattacks in the Saudi banking sector.","Answer",{"name":78,"@type":73,"acceptedAnswer":79},"How was the research conducted?",{"text":80,"@type":76},"The study uses a qualitative approach based on in-depth interviews with 17 board directors from prominent Saudi Arabian banks.",{"name":82,"@type":73,"acceptedAnswer":83},"What benefits of AI and ML does the study identify?",{"text":84,"@type":76},"It identifies substantial benefits in threat detection, fraud prevention, and process automation, helping banks meet regulatory standards and mitigate cyber threats.",{"name":86,"@type":73,"acceptedAnswer":87},"What barriers and ethical concerns are reported?",{"text":88,"@type":76},"The paper highlights limited technological infrastructure, lack of cohesive AI strategies, and concerns about data privacy and algorithmic bias.","https://schema.org",{"og:url":52,"og:type":91,"og:title":13,"og:site_name":59,"og:description":14},"article",{"robots":93,"canonical":52},"index,follow",{"doc_id":7,"site_id":24},{"code":4,"msg":5,"data":96},[97,101,105,109,114,119,124,127,132,135,139],{"id":20,"doc_module":4,"doc_module_name":46,"category_name":98,"show_sort_weight":99,"slug":100},"Story & Novel",90,"story-novel",{"id":47,"doc_module":4,"doc_module_name":46,"category_name":102,"show_sort_weight":103,"slug":104},"Literature",80,"literature",{"id":53,"doc_module":4,"doc_module_name":46,"category_name":106,"show_sort_weight":107,"slug":108},"Exam",70,"exam",{"id":110,"doc_module":4,"doc_module_name":46,"category_name":111,"show_sort_weight":112,"slug":113},5,"Comic",60,"comic",{"id":115,"doc_module":4,"doc_module_name":46,"category_name":116,"show_sort_weight":117,"slug":118},6,"Technology",50,"technology",{"id":120,"doc_module":4,"doc_module_name":46,"category_name":121,"show_sort_weight":122,"slug":123},7,"Healthcare",40,"healthcare",{"id":11,"doc_module":4,"doc_module_name":46,"category_name":12,"show_sort_weight":125,"slug":126},30,"research-report",{"id":128,"doc_module":4,"doc_module_name":46,"category_name":129,"show_sort_weight":130,"slug":131},9,"Religion & Spirituality",20,"religion-spirituality",{"id":130,"doc_module":4,"doc_module_name":46,"category_name":133,"show_sort_weight":130,"slug":134},"World Cup","world-cup",{"id":136,"doc_module":4,"doc_module_name":46,"category_name":137,"show_sort_weight":136,"slug":138},10,"Lifestyle","lifestyle",{"id":140,"doc_module":4,"doc_module_name":46,"category_name":141,"show_sort_weight":110,"slug":142},19,"General","general"]