Influence of Customer Perception Factors on AI-Enabled Customer Experience in the Ecuadorian Banking Environment

This study reviews the relationship between customer perception factors and AI-enabled customer experience in the Ecuadorian banking industry. The study employs a self-designed online questionnaire with five factors for customer perception (convenience in use, personalization, trust, customer loyalt...

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Bibliographic Details
Published in:Sustainability 2023-08, Vol.15 (16), p.12441
Main Authors: Tulcanaza-Prieto, Ana Belen, Cortez-Ordoñez, Alexandra, Lee, Chang Won
Format: Article
Language:English
Subjects:
Algorithms
Artificial intelligence
Banking industry
Banks
Banks (Finance)
Brand loyalty
Competitive advantage
Costs
Credit scoring
Customer loyalty
Customer service
Customers
Design
Econometric models
Financial institutions
Hypotheses
Literature reviews
Sustainability
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Summary:This study reviews the relationship between customer perception factors and AI-enabled customer experience in the Ecuadorian banking industry. The study employs a self-designed online questionnaire with five factors for customer perception (convenience in use, personalization, trust, customer loyalty, and customer satisfaction) and two categories for AI-enabled customer experience (AI-hedonic customer experience and AI-recognition customer service). The final valid dataset consisted of 226 questionnaires. The data analysis and the hypotheses tests were conducted using SPSS 26 and structural equation modeling, respectively. The main findings displayed that all five customer perception factors (individual and joint effect) have a positive and significant effect (at least at the 5% level) on AI-enabled customer experience, AI-hedonic customer experience, and AI-recognition customer service in the Ecuadorian banking industry. Study results are aligned with previous findings from other countries, particularly the banking environment in the United Kingdom, Canada, Nigeria, and Vietnam. The AI techniques involved in the financial sector increase the valuation of customer experience due to AI algorithms recollecting, processing, and analyzing customer behavior. This study contributes a complete statistical and econometric model for determinants of AI-enabled customer experience. The main limitations of the study are that, in the analysis of the most demanded AI financial services, not all services and products are included and the inexistence of a customer perception index. For upcoming research, the authors recommend performing a longitudinal study using quantitative data to measure the effect of AI-enabled customer experience on the Ecuadorian banks’ performance.
ISSN:2071-1050
2071-1050
DOI:10.3390/su151612441