Generative and agentic AI reshaping Indian banking, bank CEOs say
AI is making waves in Indian banks, moving way beyond just catching fraud.
At a recent Mumbai conference, top bank CEOs shared how tools like generative and agentic AI are now helping with everything from customer service to speeding up daily tasks.
Punjab National Bank's Ashok Chandra summed it up nicely: "The highest use of AI will be through agentic AI, where we create AI agents for customer service," and separately that "convenience and security would remain key as banks deal with both employees and customers."
Standard Chartered: tech projects 30% faster
PD Singh, CEO, India and South Asia, Standard Chartered Bank revealed that using AI has made tech projects 30% faster, a big deal for any industry.
But it's not all smooth sailing; Debadatta Chand, CEO, Bank of Baroda, reminded everyone that humans still need to steer the ship, saying, "Whatever model we are developing, at the end of the day, it has to be under human control."
CEOs also stressed the importance of reskilling staff so everyone can keep up with these rapid changes.