Incorporation of Artificial Intelligence and Employee Retention in Deposit Money Banks in Akwa Ibom State, Nigeria

Ededem A. Edem, Aniebiet E. Nwoko, Unyimeobong U. Ekpo & Isaac U. Inwang

Download article picture_as_pdf

Abstract

In Nigeria’s rapidly changing digital banking environment, particularly in Akwa Ibom State, banks are struggling to retain experienced personnel as technological demands and expectations shift. High turnover disrupts operations and increases costs. The growing integration of artificial intelligence (AI) affects not only performance and customer satisfaction but also staff experience and retention. Hence, this study investigates the impact of artificial intelligence on employee retention in deposit money banks in Akwa Ibom State, Nigeria. The study sought to evaluate the influence of chatbots and virtual assistants, as well as fraud detection and prevention, on employee retention in deposit money banks in Akwa Ibom State, Nigeria. A survey design was employed to collect primary data from respondents in the selected deposit money banks. Using Krejcie and Morgan’s formula, a sample of 286 was drawn from a population of 1,111. A structured questionnaire and simple random sampling technique ensured that data was collected reliably and objectively. The findings demonstrated a significant positive relationship between modern technologies, notably chatbots and virtual assistants, and fraud detection systems, as well as employee retention in Akwa Ibom State deposit banks. The study concluded that adopting AI technologies enhances corporate performance and fosters a stable, positive work environment, making them key to improving employee retention. It contributes theoretically by linking AI adoption to organisational behaviour, and practically by offering insights for HR professionals and policymakers, especially in developing economies, on how strategic AI use can strengthen talent management and reduce turnover, even with limited resources. Thus, it was recommended that deposit money banks in Akwa Ibom State invest in chatbot and virtual assistant technologies, as well as fraud detection and prevention systems, to improve customer service, streamline operations, increase employee efficiency, and create a transparent work environment that fosters employee trust and retention.

Authors

Read more