The impact of AI in the banking sector & how AI is being used in 2021

The global banking industry is witnessing accelerated growth in terms of increasing adoption of digitization, rising use of AI enabled solutions and rising digital transformations. The opportunities to implement AI solutions across the finance industry are increasing with time and changing circumstances. Banks and other financial institutions are highly aware of the benefits offered by these AI solutions. The infusion of AI solutions is one of the latest trends in the banking industry. The banking industry generates a huge amount of data and AI solutions will help in connecting the dots between various data points and would alter the approach of acting with their users, therefore, enhancing the overall customer experience. Certain AI solutions have already gained a lot of popularity across banking institutions.