Indian banks turning to artificial intelligence

The advantages of the banking sector from artificial intelligence include seeking operational efficiency; means to detect and predict human behavior; and for lowering operational costs. This also signals further progress with the digital transformation of the Indian banking sector. For example, advent of mobile technologies and the end-users' trust levels in relation to banks security has pushed some Indian banks to adopt technologies such as fingerprinting for customer safety and compliance. This process of transformation has led PwC India's leader banking and capital markets, Shinjini Kumar to state recently: "Many Indian banks, like their Asian counterparts, are geared to use the advantage of local talent and leapfrogging technology to create forward looking digital strategies. However, there is a lot of ground to cover on creating Omni-channel experience and enhancing processes from the customer's point of view."