“Why Banks Are Opting For AI Applications And Services?
There are multiple reasons for the increased adoption of AI in the banking sector. This includes:
1 The immense competition in the banking sector
2 Push for process-driven services
3 Introduce self-service at banks
4 Demand from customers to provide more customised solutions
5 Creating operational efficiencies
6 Increasing employee productivity
7 To help focus on profitability and compliance
8 A vision to augment human work through the use of software robotics
9 To reduce fraud and security risks
10 To manage huge volumes of data at record speed and derive valuable insights
11 To bring in effective decision making”
