ICT-Infused Innovations: A Comprehensive Exploration of Artificial Intelligence (AI) Applications in the Evolving BFSI Landscape

Abstract

The Financial Service and Insurers (BFSI) sector refers to firms who provide a wide variety of accounting products and assistance across the world. This work adds to the technical innovation of services in processing administration, a topic that has yet to be settled in the available research. AI is an interdisciplinary field of study that has distinguished itself for the technical dynamism it brings to an organization products and processes. Artificial Intelligence (AI) is one of the developing technologies driving the continued expansion of ICT-enabled applications.This study investigates the application of the use of AI and machine learning (ML), respectively, in the field of banking, as well as the policy ramifications. It grants a nontechnical foundation to understand the growth and possibilities of AI/ML systems. Artificial intelligence, or the emulation of human brain in machines, is gaining popularity and will play an important role in the new financial century. The current study aims to examine consumers' perspectives on the widespread implementation of intelligent systems with artificial intelligence in Asian countries. The banking industry also prioritizes novel AI technology to boost customer service and overall growth by making greater revenue.