Scholarly record
ARTIFICIAL INTELLIGENCE AS A TOOL FOR THE TRANSFORMATION OF ESG REPORTING AND INNOVATIVE DEVELOPMENT OF THE BANKING SECTOR
Abstract
The article explores the role of artificial intelligence as a tool for transforming ESG reporting and innovative development of the banking sector. It is substantiated that, in the context of increasing regulatory requirements, the growing importance of sustainable green financing, and the rising expectations of investors and customers, ESG reporting is gradually becoming a strategic tool for the sustainable development of banking activities. It is proven that the use of AI improves the quality, accuracy, transparency, and efficiency of ESG data. The paper considers the main areas of application of artificial intelligence in ESG reporting of banks. It is established that AI enables banks not only to improve the efficiency of reporting procedures but also to gain a competitive advantage through the development of innovative products, the personalisation of services, and increased trust from stakeholders. The main software solutions banks can use to automate ESG reporting and sustainable financing are summarised. The main challenges in implementing AI solutions in ESG have been identified.. The results of the study are of practical importance for banking institutions, regulators, and public administrations that seek to improve ESG reporting, enhance the quality of ESG risk management, ensure compliance with international standards, and develop an innovative model of socially responsible business. The methodological basis of the study is a set of interconnected general scientific and special methods, a systematic approach, comparative analysis, methods of analysis and synthesis, systematisation, and classification.
Publication details
References15
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