IIT-Roorkee to offer Artificial Intelligence in banking programme

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It has been observed that about 32 per cent of financial service providers in India are already using AI technologies like predictive analytics, voice recognition etc, according to joint research conducted by the National Business Research Institute and Narrative Science.

“Artificial Intelligence has the potential to transform banking and improve compliance. The current COVID-19 crisis coupled with growing security and privacy concerns has reinforced the need for leveraging new-age skills to tackle the emerging challenges. The program will open new avenues for the participants in the banking sector,” Prof Ajit K Chaturvedi, Director, IIT-Roorkee was quoted as saying in an official statement.

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The present global pandemic has seen a movement towards digital and virtual platforms and even the banking sector is shifting towards contactless banking. It will encompass the processes such as digital onboarding of customers enabled by video KYC (know-your-customer), contactless authentication and payments, virtual customer servicing, and immersive banking experience. Technologies such as Artificial Intelligence (AI) will be highly used to develop interactive banking-customer experience. This is an opportunity for professionals and graduates who want to equip themselves with trending skills and have a competitive edge over their peers, the IIT said in an official statement.