Artificial intelligence and competitive advantage within Access Bank
Abstract
This study investigated the role of artificial intelligence (AI) in enhancing competitive advantage within Access Bank PLC in Lagos State, with strategic focus on Alimosho LGA. It examined the effects of AI technologies, including deep learning (DL), chatbots, robotic process automation (RPA), digital assistants and facial recognition, and assessed their impact on operational efficiency, customer success and strategic decision-making. The study employed a descriptive research design and surveyed 142 employees selected through simple random sampling. Data were collected through structured questionnaires and analysed using regression analysis to determine the significance of AI-driven innovations. The findings revealed that AI was found to significantly enhance operational efficiency (p < 0.01), improved customer personalisation (p < 0.01) and provided valuable strategic insights (p < 0.05), contributing to the bank’s competitive edge in market share and profitability. However, challenges such as high implementation costs, data privacy concerns and regulatory compliance issues were noted. The study recommends a strategic focus on responsible AI integration, employee upskilling and partnerships to mitigate challenges while maximising AI benefits. This research contributes to the understanding of AI’s transformative potential in banking and offers practical insights for stakeholders in the financial services sector. This paper is also included in The Business & Management Collection which can be accessed at https://hstalks.com/business/.
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Author's Biography
Ariyo Oluwajuwon Gabriel Oluwajuwon G. Ariyo PhD is a business and organisational consultant, working locally and internationally, and an adjunct lecturer in Business and Human Resources Management at the Department of Business Administration and Marketing, Faculty of Management Sciences, Redeemer’s University, Ede, Osun State, Nigeria. He has nearly two decades of industry experience and has published in local and international journals. His research interests, among others, include workplace gender distribution, generational diversity and inclusion, learning organisation, employee development, reward management, performance of small- and medium-scale enterprises and workplace deviance behaviour. Currently, he is a missionary in Sierra Leone.
Adejumo Idowu David is a seasoned data and analytics professional with extensive cross-sector experience in fintech, logistics, banking, fast-moving consumer goods (FMCG) and management consulting. He currently leads the Data and Analytics Engineering team at Hydrogen Payment Services Limited, where he drives enterprise data infrastructure and decision intelligence frameworks. David’s previous roles included business intelligence and data analyst at Kobo360, and positions at Sterling Bank PLC and Food Concepts Plc, where he played key roles in transforming data into strategic assets. He holds an MBA from Redeemer’s University, is a PMP-certified professional and a Microsoft Certified Data Analyst.
Joshua Temitayo Temitayo A. Joshua MSc is a Lead Research Consultant with Wonder Tower Consulting Ltd. He has a background spanning nearly five years in industry research. Temitayo’s research interests converge at the nexus of artificial intelligence (AI), organisational behaviour and human capital development. His scholarly work, featured in local and international journals, underscores his commitment to advancing knowledge in employee performance, motivation and AI-driven solutions. He is the author of three published books, with additional titles forthcoming. Temitayo’s research endeavours to inform policy, practice and innovation in these critical domains.
