New Delhi, June 9 (IANS). Public Sector Banks (PSBs) are rapidly adopting Artificial Intelligence (AI) and are keen to adopt new generation technologies to improve customer service, operational efficiency and risk assessment. Arundhati Bhattacharya, President and CEO of Salesforce India and South Asia, said this on Tuesday.
In an exclusive interview with IANS, the former chairperson of State Bank of India (SBI) said that public sector banks have understood that they have to keep pace with the rapidly changing technological world. He said that one specialty of these banks is that when they decide on any change, they implement it quickly.
“Public sector banks are now realizing the reality that they have to be part of this new era. The good thing about these banks is that when they take a decision, they move very quickly,” he said.
According to Arundhati Bhattacharya, many public sector banks are working on a strategy of directly accessing cutting-edge technologies instead of adopting the technology in a phased manner. This reflects their intention to rapidly adopt digital transformation.
He particularly highlighted the possibilities of “agentic AI”. It is an AI technology that can function independently and also communicate with users. He believes that it can greatly improve customer service in the banking sector.
“Agent AI is particularly well-suited for customer service, which has long been a challenge in the banking sector,” he said.
Bhattacharya said that AI can strengthen the underwriting process (loan evaluation) of banks. It can identify potential risks and reduce mistakes in decision making by analyzing data from different sources.
He said that this technology will not only increase operational efficiency but will also help banks connect with customers in a more effective manner.
Additionally, AI-based tools can also help banks reach more customers, provide personalized services, and increase employee productivity.
Arundhati Bhattacharya told IANS that Salesforce has seen an increase in customer engagement after incorporating agentic AI into its support system.
“When we added a layer of agentic AI to our helpline, we found that customers started asking more questions than before because they were getting useful answers. The same principle can be applied in the banking sector as well,” he told IANS.
Bhattacharya further said that AI will play an important role in shaping the future of the banking sector in the times to come. Financial institutions are constantly studying the possibilities of its use in various areas such as customer service, loan distribution, risk management and operations.
–IANS
DBP
