How AI is transforming the finance sector
The Tata AI Conclave, held on February 18 in New Delhi as part of the India AI Impact Summit 2026, brought together leaders to talk about how artificial intelligence is changing the way banks and financial companies work.
AI speeds up decision-making and reduces costs
Rajiv Sabharwal from Tata Capital shared that thanks to AI, decision-making for loans under ₹10 lakh now takes just hours instead of weeks—making things way quicker for customers.
Sandeep Ghosh from Visa added that their systems use AI to process a billion transactions daily, analyzing over 500 data elements in mere seconds and even cutting coding costs by up to 30%.
Challenges in implementation
Speakers like Praveena Rai (MCX) and Nehal Vora (CDSL) explained that data volumes can grow to 17.5 crore records in some cases, beyond what humans can manually review.
The discussion also addressed the challenge of little or no structured data in tier 2, 3 and 4 cities, and concerns around bias, data localisation and privacy.
Need for human oversight
Despite all the tech buzz, experts agreed that people still need to double-check what AI does—what they called "the smell test"—to make sure everything's safe and trustworthy.
The big takeaway? Blending smart tech with human judgment is key for trust and privacy in finance.