In this AI-powered age, improving customer service, better connectivity, and regulating operational costs are some of the desired advancements that industries in the BFSI sector look forward to. According to McKinsey & Company, Artificial Intelligence in Banking and Finance potentially could unlock about USD 1 trillion in value generation in the sector [1]. Being an […]
The insurance industry has always had data as the core of its operational processes. The modern insurance industry witnessed an explosion of data collection with rapid developments during the Information Age, thus requiring more sophisticated use of technologies that could speed up insurance activities with increased efficiency. This eventually set up the adoption of AI […]
These are transformative times that we’re living in, and to progress in a technologically tumultuous age is to adapt to new advancements that aim towards making everyday life better. Intelligent Process Automation (IPA) is one of the newest such buzzwords that has begun to take the workspace by storm, inducing the next-gen innovations and […]
Debt collection practices have evolved tremendously in the last few decades with the advent of technological aids. These help collection agencies and individual creditors manage debt recovery with better efficiency. Earlier, debt collection was a through-and-through call-and-respond industry. However, this mode of operation brought in a horde of errors and miscalculations, often ending in legal […]
Insurance companies arguably receive a massive volume of customer inquiries every year, and many of these are not too simple to handle. Burdened with increasing requests ranging from insurance policy information to payments, and renewal to complicated grievances, insurance companies often witness a drop in work efficiency due to such high demand. Even though recent […]
Chris Skinner once said, “Ignoring technological change in a financial system based upon technology is like a mouse starving to death because someone moved their cheese.” And as a corollary to this ideology, most organizations in the BFSI sector are gradually warming up to the vast pool of benefits offered by recent technological advancements that […]
Today, the world steadily moves towards better technology as breakthroughs in Artificial Intelligence are rapidly being achieved. AI trends have been constantly evolving and getting more advanced with every passing year, as businesses continue aiming towards smarter work processes and improved efficiency. Many businesses are now investing in AI tech to provide a better customer […]
The world of technology stands on a crucial precipice of change – a paradigm shift occurring through Artificial Intelligence applications in myriad fields. This begs asking a prime question that has been on the minds of several innovators in the tech industry: can a machine one day behave exactly like a human? And if this […]
What makes AI so desirable in the BFSI sector? That many organizations are now vying towards implementing process automation in their daily processes? It obviously goes beyond benefits such as improved customer experience, better security, and saving operational costs. Out of all the financial sectors, Artificial Intelligence seems to have made the most progress in […]
During my talks and sales meetings, I have frequently used the analogy of the automation of blue-collar jobs in factories using robots to how we are transforming offices and white-collar jobs through digital employees. After a recent chat with Saraswati Jituri, my colleague who has a long background in lean for the manufacturing industry, we […]
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