Artificial Intelligence and Human Resources Practices in Nigeria's Banking Sector: Exploring Equity and Social Good in the Workplace

Abstract

The Introduction of artificial intelligence (AI) into Nigeria’s banking sector has raised concerns about the effects on human resources practices, social responsibility, and fairness in the workplace. Therefore, with the widespread use of AI Technology, it has become imperative to study its impact on employee experiences, organizational social responsibility, and equity. The purpose of the study is to determine the relationship between AI-driven human resources practices and fairness in Nigeria’s banking sector. An online survey questionnaire used to collect the quantitative data using Google Forms. This involved employees from the Nigerian banking sector, First Bank, GTBank, Zenith, Access Bank and Ecobank in Ogun State, Nigeria. The sample size was 80 employees. An in-depth interview, which involved 9 HR Professionals, provided qualitative insights. ANOVA, Correlation, and Regression analyses were used, along with descriptive and inferential statistics, to analyze the quantitative data using SPSS as the Software for data Analysis. While; Thematic analysis was used on the qualitative data to identify themes and codes related to AI-driven human resources practices and fairness. The results show that the infusion of AI-driven practices can improve objectivity in employee selection, efficiency, and performance assessments. Therefore, the issues of being biased in AI algorithms lack transparency and cause job displacement. The Employees’ insights of AI driven HR practice were influenced by trust, involvement in the development, early awareness and implementation process. The implication for this study is for organizations adopting AI into their operations to understand that there is a need for transparency in the implementation of AI into processes, advocating accountability, and ensuring fairness in all AI-driven HR practices. The recommendations are that HR professionals should develop AI literacy in order to apply AI successfully in HR practices. Banks need to utilize AI wisely to focus on optimizing efficiency, equity, and social good. Lastly, to regularly monitor and evaluate AI systems to determine if they are transparent, fair, and efficient.