Abstract

This article explores the transformative impact of Artificial Intelligence (AI) and Cloud Computing on the banking sector, highlighting real-world applications and their effects on operational efficiency, cost reduction, and customer satisfaction. Through detailed case studies, such as JP Morgan Chase's COIN platform and Bank of America's virtual assistant Erica, we illustrate how these technologies automate complex processes, enhance security, and deliver personalized customer experiences. The integration of AI and cloud computing not only streamlines banking operations but also presents significant cost savings, with potential reductions in operational expenses projected to reach up to $1 trillion by 2035. Furthermore, the article discusses the positive correlation between the adoption of these technologies and improved customer satisfaction, driven by 24/7 access to banking services and tailored financial advice. This comprehensive review underscores the critical role of AI and cloud computing in shaping the future of banking, offering insights into the challenges and opportunities that lie ahead.