Investigating the Consumer Implications of Artificial Emotional Intelligence (AEI) in the context of Digital Banking in South Africa

Abstract

A revolution in human-computer interaction has been brought about by the swift developments of artificial intelligence (AI), especially following the emergence of artificial emotional intelligence (AEI). The integration of AEI in the South African digital banking industry was investigated in this master's thesis, along with the potential and limitations it represented. The study used a quantitative research technique to collect data from Gauteng region residents who use digital banking. Surveys were used to evaluate user experience, ethical issues, and the effect of AEI on consumer trust and privacy. The results showed that although AEI improved user experiences by offering emotionally intelligent and tailored interactions, it also brought up serious issues with data security, privacy, and the possibility of emotional abuse. Additionally, the study revealed a significant deficiency in the existing regulatory structures, which had difficulty keeping up with the rapid advancements in technology. By giving a thorough examination of how AEI affected user habits and banking practices, the study added to the body of knowledge in the academic community. It also made recommendations for digital banking institutions on how to create strong policies and frameworks for the moral use of AI technology. This study contributed to the wider conversations on AI ethics and legal requirements while also deepening our understanding of AEI in the context of digital banking