Tuesday , August 4 2020
Home / INTERVIEW / Realizing the promise of AI- how is it shaping up in the BFSI space?

Realizing the promise of AI- how is it shaping up in the BFSI space?

 

Kamal Mishra – AI has a lot of things to offer in the financial services space and it is upto the stakeholders to decide and wrap up the right values AI could inpart. Infact, it is like as Stephen Hawking said, ” there’s huge value in getting the fundamentals correct”

 

Metesh Bhati – As decision makers, we need to be cognizant about the system safety where we’ll be interacting with blockchain, we’ll be interacting with IOTs and different devices and technologies, So, cyber security and security becomes critical and crucial for us. Secondly, if you look into customer safety where there’s lot of data that is going to be captured and will be captured in future how do we make sure that the privacy of the customer and the data is well maintained and thirdly how do we fill in the technology gap or the talent gap where people and most of their work will be automated and whereas we would require them to be re-skilled for different usage.

 

Anish Agarwal – So, if you look at today’s balance, AI is everywhere. You name any sector, they have a strong aptitude to accept and adopt AI. However, if you look at the real trouble we talk about the number of used cases but what’s really happening beyond those used cases is something that we really need to work on. The beauty about AI is that it’s agnostic about the vertical, so, being in the banking sector I do have an opportunity to leverage on the used cases which I can see or I can find in the telecomm industry which is circulating around the jio tagging, or the government healthcare where I can use the algorithm using healthcare to predict the default rate of a particular product or lone product as well. So, in today’s balance AI is something which every organization should have a clear defined strategy of which will actually ensure that they are able to leverage on this technology and stay competitive in today’s context.

About Admin

Check Also

afique R Ibrahim, Group IT Head- Payment, Al Fardan Exchange L.L.C argues that while the technologies were always there, it is the adoption rate that has now picked up.

Reimagining Banking During and After COVID-19

Shafique R Ibrahim, Group IT Head- Payment, Al Fardan Exchange L.L.C argues that while the …

Leave a Reply

Your email address will not be published. Required fields are marked *