After success with RPA, ICICI Bank guns for the AI pie

Two years ago, one of India's major private lenders ICICI Bank became the first in the country to adopt software robotics, also known as robotic process automation (RPA) on a large scale. The operations department deployed around 200 robotics software programs, which helped in processing close to 10 lakh transactions daily. It's been two years and the bank's love for automation has picked up and how. According to research firm IDC, RPA is a software code that automates standardized, rules-based repetitive tasks, which were traditionally done by humans. Anita Pai, senior general manager and head of operations at ICICI Bank India, said the bank has now scaled up to 750 software robots and also doubled the number of transactions (close to 20 lakh) handled daily. "These robots are being used across different operations and LoBs including retail, wholesale banking, forex, treasury, agro and international operations.