Federal Deposit Insurance Corporation

AI is transforming BFSI with enhanced efficiency, risk assessment, and financial inclusion. However, managing bias, security, and regulations is crucial. A balanced approach with automation and human oversight will shape AI's future.

Eliminating AI safeguards can increase uncertainty for financial institutions and, in a worst-case scenario, increase the risk of systemic collapse.

Prudential Financial's Lauren Clement wonders if new breakthroughs in AI could completely disrupt how the industry has long relied upon artificial intelligence.

In conclusion, Venkata Raja Ravi Kumar Gelle highlights that facial recognition adoption in banking marks a major shift toward smarter and safer financial services. With responsible implementation and continuous innovation, this technology can redefine customer interactions, setting new standards for security and service excellence.

CCC Intelligent Solutions had another record year in 2024, and this year will continue its focus on growing artificial intelligence-powered products for the insurance and collision repair

DBS Bank to cut 10% workforce in 3 years as AI takes over key operations, with CEO Piyush Gupta outlining the impact of automation on banking jobs

The revamped Central KYC aims to simplify and standardise KYC procedures across the financial sector, ensuring greater security and efficiency

The increasing integration of Artificial Intelligence and Gen AI with the financial sector has the potential to foster innovation and transform the banking sector in the coming years, SBI Chairman C S Setty said on Friday.