Close
Artificial Intelligence is transforming the Banking, Financial Services, and Insurance sector by enhancing efficiency and customer experiences. Industry leaders at the Tech and Innovation Summit 2025 discussed the readiness of financial institutions to adopt AI, highlighting its role in risk assessment and operational streamlining. However, challenges such as bias and regulatory concerns remain significant.
Companies like InCred and Digit Insurance are leveraging AI to improve lending and insurance processes. InCred utilizes machine learning for risk assessment, while Digit Insurance employs advanced chatbots for customer service. Despite the potential rewards, the industry must navigate risks related to data security and regulatory compliance.
• AI enhances efficiency and customer experiences in BFSI.
• Challenges include bias, security, and regulatory concerns.
Generative AI refers to algorithms that can generate new content or data, enhancing customer interactions in insurance.
Machine Learning involves algorithms that learn from data, used by InCred for assessing lending risks.
Chatbots are AI-driven tools that assist customers, evolving into intelligent assistants at Digit Insurance.
InCred is a technology-driven NBFC that uses AI for risk assessment in lending.
Digit Insurance employs AI-driven chatbots to enhance customer service and streamline claims processing.
Asian News International 4month
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
How to level up your teaching with AI. Discover how to use clones and GPTs in your classroom—personalized AI teaching is the future.
Trump's Third Term? AI already knows how this can be done. A study shows how OpenAI, Grok, DeepSeek & Google outline ways to dismantle U.S. democracy.
Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
Log in
Sign Up
AI Tools - Popular
AI Tools - Categories
GPTs - Categories
AI for Jobs
Key AI Highlights in this Article
Key AI Terms Mentioned in this Article
Companies Mentioned in this Article
