Reaping Benefits through Implementing “Artificial Intelligence” applications in Banking Sector

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V.Subrahmanya Ramamurty, T.Satish Kumar, P. Nagaraj

Abstract

Implementation of Artificial intelligence (AI) applications in the Bankingsector is accelerating rapidly, with the introduction of digital technologies. Therapid development of the banking sectorIn India and globally highlights the importance of the implementation of artificial intelligence technologies. Even though there are many challenges and bottlenecks still holding the implementation of AI technologies in the banking sector, these applications promise safer and more reliable alternatives than the conventional systems which are still in practice. These applications have gained importance due to the seamless experience they are providing to the customers when compared with conventional systems. This article highlights and discusses some of the benefits reaped through implementing artificial intelligence applications in the banking sector.

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