Adopt Artificial Intelligence to improve operational efficiency in financial services sector

#artificialintelligence 

The explosion of emerging technologies such as artificial intelligence (AI) is dramatically changing the way businesses operate today. As businesses collect more and more data, the need for solutions to drive true value from that data grows in importance. AI, in conjunction with big data and analytics, can deliver that baseline value and go beyond traditional solutions to find deeper insights. In India, banks are fast moving in this direction and deploying AI-powered chatbots for their operations to gain better insights into their customers' usage patterns, offer customised products, help in detecting fraudulent transactions and improving operational efficiency amongst others. There is no denying that AI helps banks nurture their relationships through better interactions with their customers however, not without challenges.