APPLICATION OF ARTIFICIAL INTELLIGENCE FOR SUCCESSFUL STRATEGY IMPLEMENTATION IN INDIAS BANKING SECTOR
Bhavna Agarwal, Himanshu Agarwal, Parvez Talib · International Journal of Advanced Research · 2019
focus being on Artificial Intelligence (AI) as a collaborator for successful strategy implementation in India"s banking sector.Digital Technology is a crucial element of Information Technology (IT) strategy of every banking organization operating in present agile Industry 4.0 era as every bank needs visibility into its people, customers, processes, tools, utilization trends thereof and strategic goals i.e. ensuring optimum utilization of IT resourceconsequent saving of money, while at the same time offering world class services to its customers, hence initially banking IT strategies adopted automation of data collection, analysis thereof and intelligent reporting with an objective of achieving aforesaid goals.And now its time to deploy digital technology like AI having insightful ability of interconnecting large number of processing elements, resolving problems by processing information similar to natural human brain and to successfully implement intended strategies.India"s banking system can get developed and integrated with the international market by leveraging such technologies.Researchers take up this study with an objective to examine the state of affairs of AI in India"s Banking sector and research conducted thereon in order to facilitate banking leadership in successful execution of their strategies.Consequently, researchers framed few specific objectives and outlined the scope of this study.The scope of this study contextually is focused on evolution, implementation and future opportunities associated with proactive utilization of AI in India"s banking sector, thus necessitating current status of the research in this area to be explored, along with practical applications achieved till now and forthcoming opportunities via proactive utilization of AI.Based on this study, Researcher presents several areas of India"s banking sector where AI has made its way and much more which can be achieved further in this business area.