Artificial intelligence in banking: The factors shaping social robot relationships

In this article, Meral Ahu Ozcan Karageyim, Senior Researcher at CARF, dives into how AI and social robots are changing the way we experience banking. She explores the tech, psychology, and human factors that shape trust, engagement, and the future of customer interactions in finance.


The Fourth Industrial Revolution has introduced a wave of transformative technologies that are reshaping everyday life. Artificial intelligence has moved beyond experimental applications and is now deeply embedded in almost every domain of modern life. Education, entertainment, retail, finance, investment, and the broader service sector increasingly rely on AI-driven systems to improve efficiency, accuracy, and personalization. Digital assistants such as Siri and Alexa exemplify how AI simplifies everyday tasks, enabling users to access information, manage schedules, and control smart environments with minimal effort. The global market size for service robots is expected to reach approximately $799 million by 2031, underscoring the growing economic significance of these technologies.

More advanced AI applications are emerging in the form of social robots—machines designed to interact with humans in socially meaningful ways. These robots are no longer confined to laboratories. In cities such as Seoul, service robots guide customers to restaurant tables and assist elderly individuals in their homes. In Tokyo, AI-powered robots support customers in bank branches, handling inquiries that were traditionally managed by human employees.

In the era of generative AI, customers show a growing preference for effortless and largely invisible interactions rather than traditional digital banking experiences. Platforms such as Uber, Booking.com, and Starbucks illustrate this shift by embedding financial services directly into user journeys, reducing friction and enhancing convenience.

As social robots become more common across industries, their integration into banking appears inevitable. However, adoption depends on specific psychological, technological, and relational factors.