No job losses due to chatbots, AI: Banks - Times of India

Mumbai: The financial sector in India is driving investments into chatbots and artificial intelligence (AI) to augment customer service, but bankers are convinced that there would not be job losses as these new tools will only complement staff. When it comes to AI it is not upstarts but big guns of banking with resources, which are driving investments. State Bank of India (SBI) is working with IBM to make use of Watson -- an answering computer software to assist staff and employees. HDFC Bank has tied up with artificial intelligence firm Niki (funded by Ratan Tata and Ronnie Screwvala) to bring in conversational banking. Last week, Yes Bank partnered Payjo to launch AI-led digital initiatives.