Analyzing the Challenges and Opportunities of Generative Artificial Intelligence in Iran’s Banking Industry
Niloofar Moradhasel, Mohammad Kazem Sayadi, Mohamad Shahram Moin · 2024
The Fourth Industrial Revolution involves the shift in the economy and society that has been driven by emerging technologies. Among these are Artificial Intelligence and other related scientific innovations. This paper explores the effect of Generative Artificial Intelligence on the Iranian banking industry using a SWOT analysis. The results indicate that the identified opportunities are more than threats the existing, while weaknesses are more than strengths, so the industry falls into the WO quadrant. Consequently, it is recommended that banks adopt a Redirection strategy utilizing Generative Artificial Intelligence.