V2I10P72

Investigating the Impact of AI Usage in Ghana. A Case Study of Ghanaian Banks

David Laud Amenyo Fiase^1*, Kwadwo Opoku Attah¹, Daniel O. Adjin¹, Omewu Justin¹, Nathaniel Nelson¹, Nancy Owusu¹, Perry Agyeman¹

Abstract

This study investigates the impact of Artificial Intelligence (AI) usage in the Ghanaian banking sector, driven by the need to understand how AI technologies are being adopted and what implications they hold for operational efficiency, customer service, and decision-making. The aim of this project is to investigate the impact of AI on the Ghanaian banking sector, focusing on its adoption, challenges, and potential to enhance operational efficiency, cybersecurity, and financial inclusion. The problem addressed is the limited information on the extent, impact, and challenges of AI usage in Ghanaian banks. A quantitative research approach was employed, using structured questionnaires distributed among employees of selected commercial banks. The methodology focused on collecting measurable data to analyze trends in AI adoption, perceptions of its effectiveness, and the challenges associated with implementation. Findings revealed that while many banks have integrated AI tools such as chatbots, fraud detection systems, and credit scoring algorithms, the frequency of interaction and level of staff training vary significantly. AI was reported to enhance operational processes and customer experiences, but concerns regarding job displacement, financial costs, and inadequate technical expertise were noted. The study concludes that AI presents transformative potential for the banking industry in Ghana if implemented with strategic planning and capacity building. Based on the results, it is recommended that banks invest in digital skills development, improve infrastructure, and establish clear policies to support sustainable AI adoption.

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Keywords:

Artificial Intelligent (AI), Ghanaian Banking Sector, Cybersecurity, Credit scoring Algorithm