SBI chief says that the integration of AI with the financial sector with the financial sector, SBI chief | Mint

SBI Chairman CS Setty said on Friday that the growing integration of Artificial Intelligence and General AI along with the financial sector has the ability to promote innovation and change the banking sector in the coming years.

Setty also said that its impact on the growing digital economy and Indian banking sector can be detected by the limit of digital products that banks provide today.

“Artificial intelligence has the increasing interest in intelligence, General AI and the ability to carry forward further progress in its integration in the financial sector, to promote innovation, efficiency and flexibility for the benefit of the financial sector … one to strengthen banks There is a continuous requirement. To examine the Risk Management Standards, Business Arrangements and Customer Onboarding, “Setty said in an event organized by the Institute of Chartered Accountants of India (ICAI).

In addition, he said that technology-based banking products are essential for the arrival of products and weaker sections of the society, these products of consumer education and protection.

“Data violations and operational failures have also increased. Cyber ​​attack and cyber crime are rapidly weakened in India as well as the weakest link for most countries in the world. Some areas such as health, banking and government institutions are The attacks are susceptible to others, “said Setty.