How Artificial Intelligence is Going to Revolutionize the Non-Banking Financial Companies

Artificial intelligence (AI) will revolutionize the NBFCs with banking-like services sans a banking license. Similar to a bank, in nature and its activity, it faces different challenges related to risks, processes, customer service, and various other operational matters. AI stands as an innovative solution to these challenges, and therefore, the NBFCs are standing tall against this increasingly digital and data-driven world. This research aims to identify the domains of AI research in NBFCs. This study highlights the market's current scenarios and the need for AI technologies in NBFCs. Also, this study highlights the importance of AI in the NBFCs. AI provides new solutions to these challenges