Lowe's India and Barclays highlight AI at Nasscom Mumbai Summit
AI is making work and shopping smarter, at least that's what Lowe's India CTO Ankur Mittal and Barclays Global Services India CEO Praveen Kumar shared at last week's Nasscom GCC Summit in Mumbai.
They highlighted how AI helps businesses make faster decisions and sparks new ideas.
Lowe's MyLow doubles conversions, Barclays automates
Lowe's rolled out MyLow Companion, an AI assistant for 300,000 store associates across 1,750 locations. It gives quick answers about products, store inventory, nearby store availability, and helps with customer questions.
Online shoppers using the tool converted at twice the rate and store staff got better helpfulness scores.
At Barclays, AI handles tasks like summarizing calls and powering their FX bot, which cuts foreign exchange quote times by 75%. The bank is also using AI to boost fraud detection and speed up compliance checks.
Companies say AI speeds decision making
Both companies see AI as a way to tackle tough challenges and to create smoother experiences for customers and employees.
As Praveen Kumar put it, these advanced tools are helping banks make decisions almost instantly while opening doors for fresh growth.