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

Authors

  • Devdeep Banerjee State Aided College Teacher, Department of Commerce Jogamaya Devi College, Kolkata
  • Reshmi Pramanick State Aided College Teacher, Department of Commerce Jogamaya Devi College, Kolkata

DOI:

https://doi.org/10.33516/maj.v59i2.70-72p

Keywords:

No keywords.

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.

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Published

2024-03-15

How to Cite

Banerjee , D., & Pramanick , R. (2024). Is Artificial Intelligence (Ai) In Banking A Boom or a Passing FAD?. The Management Accountant Journal, 59(2), 70–72. https://doi.org/10.33516/maj.v59i2.70-72p

References

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Suma, S.R., & Anupama, S. (2021). Artificial Intelligence and its applications in Indian Commercial Banks. MDIM Business Review, Vol II, Issue II, December 2021, 50-58.

Ghandour, Ahmad. (2021). Opportunities and Challenges of Artificial Intelligence in Banking: Systematic Literature Review. TEM Journal, Vol 10, Issue 4, November 2021, 1581-1587. DOI: 10.18421/TEM104-12

Shetty, K.S., Spulbar, C., Birau, R., & Filip, R.D. (2022). Impact of Artificial Intelligence in Banking Sector with Reference to Private Banks in India. Physics AUC, Vol 32, 59-75.

https://www.pwc.in/assets/pdfs/researchinsights/ 2022/ai-adoption-in-indian-financialservices- and-related-challenges.pdf

https://www.paymentscardsandmobile.com/ how-is-ai-changing-the-banking-industry/

https://www.capgemini.com/news/press-releases/ capgemini-research-ai-in-customer-experiencefor- financial-services/#:~:text=Just%20 over%20half%20of%20customers,the%20 COVID%2D19%20crisis%20prolongs.

Books and Reports

i. Annual Report of PWC, 2022

ii. Annual Reports of Capgemini, 2022

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