As we know the world is getting bigger day by day and we start depending on technology too much. Alternatively, the technologies grow day by day for the fulfillment of customer demand and companies even start presenting people's more options, gadgets, and machines that help people to live easily. These days everything is just one click away from the user like if we want to send a message we just have to say Siri, Google Assistance, or Alexa. These are real examples of artificial intelligence Course. There are other examples as well, like self-driven cars and robots in restaurants, etc. The capacity of a virtual laptop or laptop-managed robot to carry out responsibilities is generally related to smart beings.

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Artificial Intelligence has progressed significantly since the famous triumph of IBM's PC DeepBlue over Kasparov in 1997. Everything began a long time before the ruler of chess lost before a machine, with Norbert Wiener, the dad of robotics as he's named, who was the first to conjecture that all clever conduct was the aftereffect of input instruments and these could be recreated by machines. Today the improvement of A.I. is moving toward the second when the limits among people and machines will be seriously obscured. What used to be only a Si-Fi film content, presently is a reality. On account of advances in AI, these days computers can interpret oral and composed discussions, perceive photographs and faces, or basically be your own collaborator. Presently, how do organizations in various areas utilize innovation?

The ongoing pandemic has changed our experiences forever -- as employees, citizens and customers. While the unrelenting pandemic continues to roll on, the future is not going to be the same. There have been a lot of changes in the last few months in consumer preferences and subsequently business functioning. Businesses are witnessing altered consumer buying patterns, nudging them to re-evaluate how they can deliver relevant customer experience to support business continuity. One of the most significant changes have been a significant focus on digital acceleration.

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.

With increased awareness about the transformative power of AI, the adoption of AI is now being seen across many industries. From large banks like HDFC Bank to ecommerce players like Pepperfry, AI is being used for a variety of use cases. HDFC Bank uses an intelligent AI-enabled bot for improving the efficiency of the credit decision process. Eye balling is of paramount importance in the credit decision process, and the bot mimics a human by eye balling the customer demographics for those who have applied for loans against the already existing base. For the signature verification process for clearing cheques, the bank is using machine learning with almost 80 per cent accuracy to process more than 2.5 lakh cheques a day.

The BFSI sector has always been the first to experiment and adopt emerging technologies, even when the business case is not so clear. Last year, while the hype about blockchain came down significantly, AI continued to be an increased area of interest. As expected, bots continued to be deployed across the enterprise, and showed the ability to handle queries of increased complexity and scale. Kotak Mahindra Bank's Keya, India's first voice bot in the banking sector, handles more than a million interactions every month and successfully recognises the intent behind 70 per cent of all calls. Similarly, 120 bots deployed at ICICI Lombard General Insurance handle about 90 per cent of policy issuance in near real-time.

HDFC Bank, arguably India's best managed bank in terms of risk mitigation and sustained profitability metrics, heavily uses machine learning technologies to create accurate credit risk models. The bank also has to its credit innovations such as 10 second loans, for which it uses algorithms. To boost its machine learning and AI capability, the bank has launched a hackathon on HackerEarth. "Under the Centre of Digital Excellence (CODE), the Bank is organising the Hackathon challenge to hire data scientists. The top talent that emerges out of this challenge will be offered the chance to work in the Bank in the risk analytics team. We are looking at specialisation in coding and machine learning. This initiative is part of the Bank's endeavour to remain at the cutting edge of leading technologies like AI, ML etc. We hope to harness the potential talent that exists outside to enhance our capabilities in digital and technology," said Nitin Chugh, Country Head – Digital Banking, HDFC Bank.

Myra and Gia were godsend. If tourists start booking Shimla holidays to enjoy the snow and traffic outstrips the number of rooms, the duo sends alerts to hotel chains in the region to increase online inventory. They forecast demand, answer customer queries and can even update on flight delays. The duo has been at the travel portal's headquarters in Cyber City, Gurgaon, for just a year but has already moved on to solving more difficult tasks such as managing loyalty programmes. Whether cancellations or refunds from 12,000-15,000 customer interactions every day, about 60% are resolved by the duo and some of their other techsavvy mates.

Chatbots, which began as a fairly unknown niche concept in technology, are now turning into a necessity for mainstream businesses. Globally, the chatbot market has seen explosive growth since 2015, growing at 35 percent CAGR. Reports estimate $8 billion in annual savings from chatbots, with 80 percent of businesses considering implementing them. Big advances being made by the big five -- Facebook, Google, Microsoft, Apple, and Amazon -- today jostle for headlines with the innovations being led by nimble startups. However, one of the questions we ask ourselves regularly is where does India lie in this journey?