Beyond the Hype: Exploring ChatGPT`s Role in Banking

Tenth International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research

Dan Costin Nitescu ORCID

Adina Elena Calin ORCID

Vanesa-Daniela Ungureanu ORCID

Eugen-Marian Vierescu ORCID

Keywords:

DOI:

10.31410/LIMEN.S.P.2024.119

Abstract:

The accelerated digitalization of banking organizations in the post- Covid-19 world holds the promise for increased efficiency in customer service, fraud detection or risk management. Artificial intelligence has a significant potential to transform the way banks operate, but can it be assigned a primary role in banking transformation, or will it be the co-pilot for human-centered change? By empirically analyzing the European investors` reaction to ChatGPT`s launch, this research explores the market expectations and potential impact on banking organizations. Using an event-study methodology and cross-sectional regressions, the results emphasize an immediate market concern, signaling vulnerabilities and challenges related to artificial intelligence’s impact on banking operations, especially for large systemic banks. The paper contributes to a better understanding of the potential of ChatGPT technology and the need to leverage its advantages while adapting risk management.

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Tenth International Scientific-Business Conference LIMEN Leadership, Innovation, Management and Economics: Integrated Politics of Research - LIMEN 2024 - International Scientific-Business Conference – LIMEN 2024: Vol 10. Selected Papers , December 5, 2024

Conference Proceedings published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia

ISBN: 9788680194936 , ISSN: 26836149 , DOI: 10.31410/LIMEN.S.P.2024

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.

Suggested Citation

Nitescu, D., Calin, A., Ungureanu, V., & Vierescu, E. (2025). Beyond the Hype: Exploring ChatGPT`s Role in Banking. International Scientific-Business Conference – LIMEN 2024: Vol 10. Selected Papers (pp. 119-130). Association of Economists and Managers of the Balkans, Belgrade, Serbia. https://doi.org/10.31410/LIMEN.S.P.2024.119

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