Topics In Demand
Notification
New

No notification found.

Blog
Interview: Open The Floodgates For Enterprise AI In Your Bank

January 3, 2018

AI

520

0


Listen to this article



CustomerXPs CEO Rivi Varghese on deploying AI as a core strategic capability to overcome the ‘yin-yang’ predicament.

AI is the current buzzword and we have come across copious examples in retail, manufacturing, etc. Do banks adopt AI like others industries or are they different from other industries, with respect to how AI can be used?

Banking is a world of opposites. While on the one hand, we have the glamorous retailer outlook when banks engage with customers on the cross-sell side on the other hand banking is heavily regulated and audited, which means the rules of retail don’t work here. For example, unlike a retailer a bank can’t be lending, selling or stopping transactions merely by probabilities or algorithms – the regulators want a precise black or white answer for most of these actions. This is what we call as the Yin-Yang conundrum of AI in banking.

But there’s not much clear articulation of the tangible and significant benefits of AI in banking. Could you demystify AI for banks, from the practitioner’s perspective?

This Yin-Yang conundrum also restricts AI to the peripheries of banking (e.g. chat bots, query assist, etc.) – thus just scratching the surface of the power of AI. There are two other core reasons that…. Read More


That the contents of third-party articles/blogs published here on the website, and the interpretation of all information in the article/blogs such as data, maps, numbers, opinions etc. displayed in the article/blogs and views or the opinions expressed within the content are solely of the author's; and do not reflect the opinions and beliefs of NASSCOM or its affiliates in any manner. NASSCOM does not take any liability w.r.t. content in any manner and will not be liable in any manner whatsoever for any kind of liability arising out of any act, error or omission. The contents of third-party article/blogs published, are provided solely as convenience; and the presence of these articles/blogs should not, under any circumstances, be considered as an endorsement of the contents by NASSCOM in any manner; and if you chose to access these articles/blogs , you do so at your own risk.


© Copyright nasscom. All Rights Reserved.