SBI chairman CS Setty backs banks' AI for farmers, SMEs
SBI Chairman CS Setty is encouraging Indian banks to use artificial intelligence (AI), not just for retail customers but also to support farmers and small businesses.
At a recent FICCI-IBA event, he said expanding AI in these areas could help India reach its goal of becoming a developed economy by 2047.
Setty pointed out that tools like satellite imagery can help banks improve credit access and portfolio management, but scaling these solutions across rural India is still tough.
CS Setty urges AI transparency, cybersecurity
Setty also flagged that as banks lean more on AI, cyberattacks could get trickier.
He urged banks to boost their cybersecurity and make sure any autonomous AI systems are used openly and responsibly.
For him, keeping things transparent isn't just smart; it's necessary for trust.