The role of AI and ML in the BFSI and FinTech industries
AI and ML technologies are critical components in almost every industry, and the banking, financial and insurance services (BFSI) sector is no different. The introduction of AI in BFSI operations has helped these industries improve their customer centricity, and has enabled them to become more technologically relevant. Key applications rely on AI and ML technologies primarily in the customer care, risk management, and fraud detection domains. Financial technology services have witnessed a boom in the past few years, and AI and ML components are predicted to be vital reasons for this growth in the future.
