The Impact of Artificial Intelligence on Banking Activity in the Republic of Moldova

Abstract

In the context of accelerated technological developments and the digitalization of the financial system, artificial intelligence (AI) has become an essential element in transforming banking operations in the Republic of Moldova. The implementation of AI-based solutions contributes to the optimization of internal processes, the automation of credit operations, and the personalization of services offered to customers, thereby facilitating a significant increase in the efficiency and competitiveness of local financial institutions. In addition to these advantages, AI enables predictive data analysis and proactive risk management, enhancing banks’ capacity to anticipate and respond swiftly to market changes. Moreover, the integration of digital technologies raises new ethical and regulatory challenges, necessitating the adaptation of the legislative framework to these emerging realities and ensuring cybersecurity. Collaboration among the academic community, regulatory authorities, and the banking sector is vital to fully harness the potential of these technologies, thereby ensuring the sustainable development of the financial system. Thus, the impact of AI extends beyond mere operational efficiency, representing a fundamental shift in the conception of business strategies and the management of customer relationships, ultimately contributing to the long-term evolution and adaptability of banks in the Republic of Moldova. CZU: 004.8:336.71(478); JEL: G20, G21, G28, O33