Alok Kumar Agarwal Alankit Analyzes How AI and Machine Learning Are Shaping India's Financial Future
In the fast-changing world of financial technology (fintech), India is leading the way by adopting advanced technologies to transform its financial sector. Over the past twenty years, India's Banking, Financial Services, and Insurance (BFSI) sector has grown significantly, helping the country move from a mainly cash-based economy to one that is highly digital.
Alok Kumar Agarwal Alankit, a respected industry expert and former Managing Director of Alankit, explains that artificial intelligence (AI) and machine learning (ML) are at the heart of this transformation. He states, “AI and ML are leading a major revolution!” He adds, “These technologies are changing how things work by improving fraud detection, providing personalized customer experiences, and automating repetitive tasks. This not only boosts efficiency and customer satisfaction but also shapes India's future direction.
AI and ML play a crucial role in improving decision-making and performance in various financial services, using tools like predictive analytics and risk assessment algorithms.