The banking sector is eventually undergoing a much profound transformation with several specific tools such as the artificial intelligence which is noticed to be emerging as the significant medium for the required change towards banking institutions. This analysis will signifcantly analyze the signifcance of artificial intelligence in the banking sector. The applications of artificial intelligence which are involved in the banking sector to provide better services will also be known. The authenticated usage of the AI bots in the banking sector and its significance will be eventually noticed.