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Recent Trends in the Development of Artificial Intelligence Among Banking Sectors in India

In: Trends and Challenges of Electronic Finance

Author

Listed:
  • Sumi A. M

    (University of Kerala)

  • Asha Devi. J

    (University of Kerala)

  • K. S. Chandrasekar

    (University of Kerala)

Abstract

Artificial intelligence refers to the ability of a digital computer to accomplish assignments generally associated with intelligent beings. Artificial Intelligence is repeatedly used to invent techniques supported by the intellectual procedures distinctive of humans, such as discovery, reasoning, and learning from experience. In terms of population, after China, India is the second-largest country. The country’s economy largely relies on robust financial infrastructure that contributes to the development of each sector in the country. Since the financial industry is adequately capitalized and well-regulated, Indian banks capitalize on advanced technologies. Artificial intelligence leads the country’s financial institutions, spotting typical human behaviour, lessening operational costs, and improving efficiency. Also, the implications of the ideas are focused on banking and other financial sectors with high customer interaction and, when considering handling customer requests more effectively, can be used. The main objectives of this study are to analyse the importance of artificial intelligence in India’s banking sector and to investigate the changes that occurred in the banking sector due to the emergence of AI.

Suggested Citation

  • Sumi A. M & Asha Devi. J & K. S. Chandrasekar, 2025. "Recent Trends in the Development of Artificial Intelligence Among Banking Sectors in India," Springer Books, in: Ananda S. & Tamanna Dalwai & Dharmendra Singh (ed.), Trends and Challenges of Electronic Finance, pages 375-391, Springer.
    • Handle: RePEc:spr:sprchp:978-981-96-3304-3_21
    DOI: 10.1007/978-981-96-3304-3_21
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