Artificial Intelligence; Digital Options; Retail Banking; Technology-OrganizationEnvironment Framework
Abstract :
[en] Technology-driven challenges, both existing and emerging, require banks to invest in IT capabilities, especially in artificial intelligence (AI). Digital options theory presents a valuable guide rail for these investments. However, the nature of AI as a moving frontier of computing requires certain extensions to established digital option thinking. Based on interviews with 23 experts in the retail banking industry, we highlight the importance of thinking broadly when laying the foundation for AI options and being mindful of the dynamic effects of contextual factors. Drawing from digital options theory and the Technology-Organization-Environment framework as dual lens, our study adds a structured approach to consciously balance resources and AI-related capability investments with a broader consideration of the banking industry’s complex environment. In this way, our study complements recent research on the interplay between incumbents’ resources and digital opportunities.
Disciplines :
Computer science Management information systems
Author, co-author :
FRIDGEN, Gilbert ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > FINATRAX
HARTWICH, Eduard ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > FINATRAX
Rägo, Vadim
RIEGER, Alexander ; University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > FINATRAX
Stohr, Alexander
External co-authors :
yes
Language :
English
Title :
Artificial Intelligence as a Call for Retail Banking : Applying Digital Options Thinking to Artificial Intelligence Adoption
Publication date :
18 June 2022
Event name :
Thirtieth European Conference on Information Systems (ECIS 2022), Timisoara, Romania