A CONCEPTUAL STUDY ON THE APPLICATIONS OF ARTIFICIAL INTELLIGENCE ON CUSTOMER SERVICE IN BANKING SECTOR

Purpose -Artificial Intelligence (AI) aims to develop a humanoid to imitate think and act like a human being.It is a technological development in the domains of healthcare, manufacturing, education, transportation, finance, etc.The banking sector provides advanced technical services through the adoption of Artificial Intelligence. This research work intends to focus on the influence of Artificial Intelligence on the banking operations in India.Design/methodology/approach -The research work is constructed on the previously collected sources from various articles, banking reports and case studies to explain the impact of AI in the banking sector from its inception till date in the Indian context.AI services have been utilized by Indian banks from 2015 onwards.They were used for answering customer queries, initially which was later extended to fraud detection, customer service, credit scoring and financial advisory service.