Imagine walking into a bank and being greeted by a friendly chatbot that can answer your questions about loans, mortgages, and credit cards. Or imagine being able to instantly transfer money to your friend halfway across the world using blockchain technology. These are just a few of the possibilities that are becoming a reality for Indian banks as they prepare for the future with AI and blockchain.
According to a report by PwC, India is the second fastest growing market for AI and robotics in the world, after China. This is due to the high adoption rate of these technologies in various industries, including banking.
Indian banks are using AI and blockchain to improve their customer experience, increase efficiency, and reduce costs. For example, ICICI Bank has launched a chatbot called iPal that can assist customers with a range of banking services. Similarly, Kotak Mahindra Bank has implemented blockchain technology to facilitate international remittances.
Curated by Team Akash.Mittal.Blog
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