Artificial intelligence all set to change the BFSI landscape

Businesses across verticals are moving from digitisation to cognification of everything. Having said that, banks and financial institutions have recognised the potentials of Artificial Intelligence (AI) to redefine their processes, products and services. With customer experience becoming vital to ensure good business, banks have been adopting AI solutions to further enhance their services what with virtual assistants and chatbots handling different customer queries. The banking industry is using AI to reimagine products, processes, strategies and the overall customer experience. Cutting edge AI research and development is transforming the sector through an automated, integrated, collaborated approach to cyber defence and helping facilitate better information sharing between security components within and across organizations. In the current scenario, four new threat samples are submitted to our systems every second, which is around 250 samples every minute or 15,000 samples every hour, equivalent to approximately 3,60,000 NEW samples daily!