This study investigated the impact of artificial intelligence (AI) on financial decision-making in selected financial firms in Nigeria, focusing on how AI-based systems enhance forecasting accuracy, decision-making speed, risk management effectiveness, investment decision quality, and operational efficiency. The aim of the study was to examine the extent to which AI technologies specifically automation of financial processes, predictive analytics, AI-driven customer service, fraud detection systems, and decision support systems contribute to improved financial decision outcomes. The objectives were to determine the influence of automation on forecasting accuracy, evaluate the effect of predictive analytics on decision-making speed, assess the impact of AI-driven customer service on risk management effectiveness, examine how AI-based fraud detection systems improve investment decision quality, and analyze how AI-powered decision support systems enhance operational efficiency. The study adopted a quantitative research design using a structured questionnaire administered to employees across seven major financial institutions, including Zenith Bank, GTCO, Access Bank, First Bank, UBA, ARM, and Leadway Assurance. A sample size of 350 respondents was selected using stratified random sampling. Data were analyzed using descriptive statistics and inferential tools such as regression and correlation analysis. The findings revealed that automation significantly improved financial forecasting accuracy (β = 0.721, p < 0.05), predictive analytics had a strong positive impact on decision-making speed (β = 0.684, p < 0.05), and AI-driven customer service enhanced risk management effectiveness (β = 0.702, p < 0.05). Additionally, AI-based fraud detection systems significantly improved investment decision quality (β = 0.763, p < 0.05), while AI-powered decision support systems strongly enhanced operational efficiency (β = 0.694, p < 0.05). The study concluded that artificial intelligence plays a transformative role in strengthening financial decision-making across Nigerian financial firms, offering measurable improvements in accuracy, efficiency, responsiveness, and risk control. It recommended that financial institutions increase investments in AI infrastructure, enhance employee training programs, strengthen fraud analytics, and integrate AI systems with enterprise risk management frameworks for optimal results
Adeniji et al. (Wed,) studied this question.