The impact of digitalization and artificial intelligence on sustainable development and energy efficiency of the Georgian banking sector

Abstract

In modern times, the importance of using digital technologies plays a great role. This issue is particularly important for the banking system, to provide them quality customer service and respond to market challenges at the right time. Commercial banks participating in the banking system of Georgia have the potential to achieve effective results of transformation into digital banks in a short period of time. Based on the above, the aim of the research is to identify the innovations embedded in Georgia's commercial banks and analyze their implications. Proper activity of commercial banks and development in the right direction are key components in ensuring financial stability, which highlights the significance of the mentioned topic. Theoretically, this research contributes to the broader academic discourse on digital transformation in the banking industry. Practically, such research provides valuable insights for policymakers, banking executives and other stakeholders in the financial industry. The research utilizes both qualitative and quantitative methods. Overall, the study analyses innovative technologies introduced by leading banks in Georgia and their role in innovative banking within the sector.