Redefining Banking and Financial Industry through the application of Computational Intelligence

Agarwal, Princy

doi:10.1109/icaset.2019.8714305

Cited by 19 publications

(10 citation statements)

References 6 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Initially, AI's role in Indian banking was centered on automating simple tasks like data entry and responding to routine customer queries (Lakshminarayana et al, 2019). These initial applications, despite their simplicity, laid the groundwork for more complex uses of AI and hinted at the potential for widespread transformation in the banking sector (Agarwal, 2019). The real game-changer for AI in Indian banking came with the introduction of machine learning and advanced data analytics (Bynagari, 2015).…”

Section: Emergence Of Ai In Indian Bankingmentioning

confidence: 99%

The Landscape of AI in Indian Banking Sector: A Theoretical Perspective

2024

Journal of Informatics Education and Research

View full text Add to dashboard Cite

This paper presents an in-depth study of the evolving role of Artificial Intelligence (AI) in the Indian banking sector, emphasizing its transformative impact on service delivery, operational efficiency, and customer engagement.Highlighting key advancements and integration of AI, the paper emphasizes on AI's crucial role in modernizing traditional banking practices and addressing contemporary challenges. It offers a balanced view by discussing both the opportunities AI presents for enhancing banking services and the challenges, including technical complexities and regulatory considerations. The future outlook section anticipates the continued growth of AI in banking, focusing on its potential to further personalize banking experiences and improve risk management. The study aims to provide a holistic view of AI's integration in Indian banking, serving as a resource for understanding the dynamic interplay between technological innovation and financial services.

show abstract

Section: Emergence Of Ai In Indian Bankingmentioning

confidence: 99%

The Landscape of AI in Indian Banking Sector: A Theoretical Perspective

2024

Journal of Informatics Education and Research

View full text Add to dashboard Cite

show abstract

“…Credit/debit cards became the top motor theme, dominated by banks focusing on fraud, cybersecurity, and customer relationship F I G U R E 9 Evolutionary map of themes for artificial intelligence in banking, financial services, and insurance-Sphere size denotes the count of publications (source: Authors, based on SciMAT-produced visualization) management (Agarwal, 2019;Noonpakdee, 2020;Ranjan et al, 2020;Siddiqui et al, 2020).…”

Section: A Data-driven 2010-2016 Period and The Rise Of Big Datamentioning

confidence: 99%

“…Chao et al (2019) were most cited in this period overall for their article on how banks use AI to prevent money laundering. In banking practice, major applications were found in customer relationship management, such as customer churn, personalization, experience, and service; and risk management, such as portfolio management, loan approvals, and fraud prevention (Adams & Hagras, 2020;Agarwal, 2019;Hassani et al, 2018Hassani et al, , 2020Lau & Leimer, 2019). The latter also enjoys a notable uptake in insurance practice (Dhieb et al, 2020;Gomes et al, 2021;Subudhi and Panigrahi, 2020).…”

Section: The Banks and Investments Dominate The 2019-2020 Periodmentioning

confidence: 99%

Three and a half decades of artificial intelligence in banking, financial services, and insurance: A systematic evolutionary review

Herrmann

Masawi

2022

Strategic Change

View full text Add to dashboard Cite

The banking, financial services, and insurance (BFSI) sector is one of the earliest and most prominent adopters of artificial intelligence (AI). However, academic research substantially lags behind the adoption of AI in practice. At the beginning of this century, AI research has been centered on the sector's credit risk. In the 2010s decade, expert systems were increasingly replaced by data‐driven, “algorithmic” AI. Big data enjoyed much hype in that decade, which diminished later mostly due to unsuccessful implementations. Much published research on big data actually relates to machine and deep learning but not to big data per se. These terms are often found to be conflated in research and practice. The insurance sector is substantially underrepresented in published AI research, and current research is dominated by banking and investments. Governance frameworks for “responsible AI” (RAI) are yet to be incorporated into practice by fintech companies as well as incumbent organizations. RAI is a particular issue for decentralized finance (DeFi). The most successful implementations of AI in BFSI practice, as well as dominant academic research areas, are in investments, securities, market making, customer relationships, lending, risk management, and compliance.

show abstract

“…AI and ML promote fintech substantially through credit scoring and lending by harnessing the information power of big data. Agarwal (2019) suggests several ways that these data science techniques can impose change. The operational research and finance literature is extremely voluminous on this part (Lessmann et al, 2015).…”

Section: Impact On the Fintech Sectormentioning

confidence: 99%

Big Data, Artificial Intelligence and Machine Learning: A Transformative Symbiosis in Favour of Financial Technology

Stasinakis

2020

SSRN Journal

View full text Add to dashboard Cite

Redefining Banking and Financial Industry through the application of Computational Intelligence

Cited by 19 publications

References 6 publications

The Landscape of AI in Indian Banking Sector: A Theoretical Perspective

The Landscape of AI in Indian Banking Sector: A Theoretical Perspective

Three and a half decades of artificial intelligence in banking, financial services, and insurance: A systematic evolutionary review

Big Data, Artificial Intelligence and Machine Learning: A Transformative Symbiosis in Favour of Financial Technology

Contact Info

Product

Resources

About