AI could reshape half of the roles in India’s banking sector: Report

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Amid rising concerns over artificial intelligence (AI) taking over jobs, a consultancy firm has said the adoption of technology can impact and ‘reshape’ half the roles in Indian banking sector.

In a report, Boston Consulting Group (BCG) said that the gains in productivity are limited despite a nearly five-times increase in information technology spending of banks over the last decade.

The firm forecast actual productivity gains at 1 per cent for Indian banks, adding that added that lenders from the country are behind their global counterparts.

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AI could reshape half of the roles in India’s banking sector: Report



Amid rising concerns over artificial intelligence (AI) taking over jobs, a consultancy firm has said the adoption of technology can impact and ‘reshape’ half the roles in Indian banking sector.

In a report, Boston Consulting Group (BCG) said that the gains in productivity are limited despite a nearly five-times increase in information technology spending of banks over the last decade.

The firm forecast actual productivity gains at 1 per cent for Indian banks, adding that added that lenders from the country are behind their global counterparts.

It…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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