Indian banks and financial firms jump into AI, scaling lags
Indian banks and financial firms are jumping into AI, using it to make faster decisions and catch fraud in real time.
While early adopters are seeing progress, the ET-Cisco survey points out that challenges like data security and solid infrastructure are still holding some back.
Experts say the big hurdle isn't the tech itself: it's making sure companies are truly ready to scale up.
AI assists banks with onboarding, compliance
AI isn't just powering customer support anymore; it's helping with onboarding, compliance, collections, claims processing, and fighting money laundering.
Companies like ICICI Lombard are even using AI for risk checks and predicting trends.
With generative AI boosting productivity by up to 40%, banks are looking at smarter operations and better ways to grow their customer base.