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Artificial Intelligence – Is it an advantage or threat to your company’s data security?

July 22, 2019 / Moneycontrol

The banking and financial services sector in India has come a long way in adopting Artificial Intelligence (AI) and its application. AI not only helps in enhancing customer experience but also helps improve operational excellence. The ability to use AI at scale for financial services is enabling innovative solutions for complex problems which were once difficult to resolve. AI in the BFSI market is expected to witness a 30 per cent growth by 2024. “The intelligent and adaptive nature of this technology helps streamline and automate processes and cater to customers’ changing demands. AI applications are helping banks analyse massive amounts of data and provide actionable insights,” says Faisal Husain, Co-founder & CEO of Synechron. Even though AI has been around for a few years now, its application in the banking sector is still in its nascent stage and suffers from security concerns due to limited knowledge among users. It is important for enterprises to keep them...