THE FUTURE OF WORK IN BANKING 5.0: EXAMINING THE IMPACT OF AUTOMATION AND ARTIFICIAL INTELLIGENCE ON EMPLOYEES IN SERBIAN BANKS

Abstract

The paper investigates the perceived impact of automation and artificial intelligence (AI) on Serbia’s banking workforce, with an emphasis on how demographic and job-related factors impact employees’ perceptions of these technological advances. Between September and mid-November 2024, 947 employees from Serbian banks participated in the study, completing a questionnaire that assessed their perceptions about automation and AI. The Kruskal-Wallis H-test and Mann-Whitney U-test results showed that age and education had a statistically significant impact on perceptions, with younger employees and those with higher levels of education favoring automation and AI. Gender did not have significant impact on perceptions indicating that other factors are more important. Employees in managerial positions had a more positive perception toward automation and AI, viewing them as tools for operational efficiency and innovation, but non-managerial employees, particularly those in repetitive tasks, expressed concerns about job displacement. Employee perceptions were not significantly influenced by the length of time or number of banks worked at, indicating a move toward digital literacy and adaptability as essential characteristics for career success in the developing banking business. The findings imply that banks should tailor training and digital transformation activities to different demographic groups to increase employee engagement and reduce resistance to change. These insights are essential for developing successful AI integration strategies in the banking sector.