Indian banks need to move beyond experimenting with artificial intelligence (AI) and focus on implementing solutions that deliver measurable outcomes, while ensuring accountability, data security and effective governance, top bank chiefs said at the Business Standard BFSI Summit in Mumbai on Monday.
Speaking at a panel discussion titled ‘The AI Factor in Banking’, moderated by Business Standard’s Manojit Saha, Rajiv Anand, MD & CEO of IndusInd Bank; R Subramaniakumar, MD & CEO of RBL Bank; and V Vaidyanathan, MD & CEO of IDFC First Bank discussed how AI is reshaping banking operations, lending decisions and customer experience.
Banks need to move beyond AI pilots
Subramaniakumar said Indian banks were ahead in AI implementation, but the focus now needed to shift from experimentation to practical deployment. “The RBI is very clear: you have to move from experimentation to…
