Is Artificial Intelligence (Ai) In Banking A Boom or a Passing FAD?

Abstract

The evolution of Artificial Intelligence (AI) in banking sector has transmuted drastically, guiding banks to prolific growth. Indian banking sector is also shifting its gears towards using AI. Using chat-box, robotic technology, personal financial services to provide information and steering customers to get their enquiries is one of its highlighting attributes. Although, most operations require human involvement in banking, AI, somewhat, cartels this manpower-led sector to minimize cost and expenses on redundant tasks. This article dwells on to explore, whether, AI is a boom or passing fad in banking industry by using data gathered from secondary sources.