{"id":29612,"date":"2022-04-01T14:49:09","date_gmt":"2022-04-01T12:49:09","guid":{"rendered":"http:\/\/simplifai-new\/?p=29612"},"modified":"2023-09-28T13:06:20","modified_gmt":"2023-09-28T13:06:20","slug":"influence-of-artificial-intelligence-on-the-banking-and-financial-services-sector-key-insights","status":"publish","type":"post","link":"https:\/\/simplifai.dev07.dekodes.no\/wp\/blog\/2022\/04\/01\/influence-of-artificial-intelligence-on-the-banking-and-financial-services-sector-key-insights\/","title":{"rendered":"Influence of Artificial Intelligence on the Banking and Financial Services sector: Key Insights"},"content":{"rendered":"\t<div class=\"simplifai-post-intro wp-block-simplifai-post-intro\">\n\t\t<div class=\"simplifai-post-intro__inner\">\n\t\t\t<div class=\"simplifai-post-intro__meta\">\n\t\t\t\t\t\t\t\t\t<div class=\"simplifai-post-intro__meta-date\">\n\t\t\t\t\t\t1. April 2022\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"simplifai-post-intro__meta-terms\">\n\t\t\t\t\t<li class=\"simplifai-post-intro__meta-term\"><a href=\"https:\/\/simplifai.dev07.dekodes.no\/wp\/blog\/category\/digital-medarbeider\/\" class=\"simplifai-post-intro__category\">Digital Medarbeider<\/a><\/li><li class=\"simplifai-post-intro__meta-term\"><a href=\"https:\/\/simplifai.dev07.dekodes.no\/wp\/blog\/category\/kunstig-intelligens-teknologi\/\" class=\"simplifai-post-intro__category\">Kunstig intelligens &amp; teknologi<\/a><\/li>\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t<h1 class=\"alignwide wp-block-post-title\">Influence of Artificial Intelligence on the Banking and Financial Services sector: Key Insights<\/h1><div class=\"wp-block-post-excerpt\"><p class=\"wp-block-post-excerpt__excerpt\">In this AI-powered age, improving customer service, better connectivity, and regulating operational costs are some of the desired advancements that industries in the BFSI sector look forward to. According to McKinsey &amp; Company, Artificial Intelligence in Banking and Finance potentially could unlock about USD 1 trillion in value generation in the sector [1].&nbsp; Being an&#8230; <\/p><\/div><div class=\"simplifai-byline alignwide wp-block-simplifai-byline\">\n\t\t\t\t<div class=\"simplifai-byline__inner\">\n\t\t\t\t\t<p class=\"simplifai-byline__text\">\n\t\t\t\t\t\t <span class=\"words_by\">Words by<\/span> Gaurav Athavale\n\t\t\t\t\t<\/p>\n\t\t\t\t\t<div class=\"simplifai-byline__share\">\n\t\t\t\t\t\t<a href=\"https:\/\/twitter.com\/intent\/tweet?url=https:\/\/simplifai.dev07.dekodes.no\/wp\/blog\/2022\/04\/01\/influence-of-artificial-intelligence-on-the-banking-and-financial-services-sector-key-insights\/\" class=\"simplifai-byline__share-btn twitter\" onclick=\"window.open(this.href, &#039;_blank&#039;, &#039;width=550,height=450,toolbar=no,location=no,resizable=yes,scrollbars=yes&#039;);return false;\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 16 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onclick=\"window.open(this.href, &#039;_blank&#039;, &#039;width=550,height=450,toolbar=no,location=no,resizable=yes,scrollbars=yes&#039;);return false;\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 16 16\" height=\"16\" width=\"16\" class=\"t2-icon simplifai-byline__share-icon\" aria-hidden=\"true\" focusable=\"false\"><path fill=\"none\" d=\"M8 14.0002C11.3137 14.0002 14 11.3139 14 8.00018C14 4.68647 11.3137 2.00018 8 2.00018C4.68629 2.00018 2 4.68647 2 8.00018C2 11.3139 4.68629 14.0002 8 14.0002Z\" stroke=\"#1C0E38\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/><path fill=\"none\" d=\"M10.5 5.5002H9.50001C9.3028 5.49937 9.10737 5.5376 8.92501 5.61269C8.74265 5.68778 8.57696 5.79824 8.43751 5.93769C8.29806 6.07715 8.1876 6.24283 8.11251 6.42519C8.03742 6.60756 7.99919 6.80298 8.00001 7.0002V14.0002\" stroke=\"#1C0E38\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/><path fill=\"none\" d=\"M6 9.00018H10\" stroke=\"#1C0E38\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/><\/svg><\/a><a href=\"https:\/\/www.linkedin.com\/shareArticle?mini=true&#038;url=https:\/\/simplifai.dev07.dekodes.no\/wp\/blog\/2022\/04\/01\/influence-of-artificial-intelligence-on-the-banking-and-financial-services-sector-key-insights\/\" class=\"simplifai-byline__share-btn linkedIn\" onclick=\"window.open(this.href, &#039;_blank&#039;, &#039;width=550,height=450,toolbar=no,location=no,resizable=yes,scrollbars=yes&#039;);return false;\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 16 16\" height=\"16\" width=\"16\" class=\"t2-icon simplifai-byline__share-icon\" aria-hidden=\"true\" focusable=\"false\"><path fill=\"none\" d=\"M13.25 2.25018H2.75C2.47386 2.25018 2.25 2.47404 2.25 2.75018V13.2502C2.25 13.5263 2.47386 13.7502 2.75 13.7502H13.25C13.5261 13.7502 13.75 13.5263 13.75 13.2502V2.75018C13.75 2.47404 13.5261 2.25018 13.25 2.25018Z\" stroke=\"#1C0E38\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/><path fill=\"none\" d=\"M7.5 7.00018V11.0002\" stroke=\"#1C0E38\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/><path fill=\"none\" d=\"M5.5 7.00018V11.0002\" stroke=\"#1C0E38\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/><path fill=\"none\" d=\"M7.5 8.75018C7.5 8.28605 7.68437 7.84093 8.01256 7.51275C8.34075 7.18456 8.78587 7.00018 9.25 7.00018C9.71413 7.00018 10.1592 7.18456 10.4874 7.51275C10.8156 7.84093 11 8.28605 11 8.75018V11.0002\" stroke=\"#1C0E38\" stroke-linecap=\"round\" stroke-linejoin=\"round\"\/><path fill=\"none\" d=\"M5.5 5.75018C5.91421 5.75018 6.25 5.4144 6.25 5.00018C6.25 4.58597 5.91421 4.25018 5.5 4.25018C5.08579 4.25018 4.75 4.58597 4.75 5.00018C4.75 5.4144 5.08579 5.75018 5.5 5.75018Z\" fill=\"#1C0E38\"\/><\/svg><\/a>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\t\t<\/div>\n\t<\/div>\n\n<p class=\"wp-block-paragraph\"><strong>In this AI-powered age, improving customer service, better connectivity, and regulating operational costs are some of the desired advancements that industries in the BFSI sector look forward to. According to McKinsey &amp; Company, Artificial Intelligence in Banking and Finance potentially could unlock about USD 1 trillion in value generation in the sector [1].&nbsp;<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">Being an early adopter of AI, the BFSI sector has now been using several individual technologies such as voice recognition, predictive analysis, and automated chat services (Allied Market Research). Disruptive AI technologies predicted enhancements to occur for rapid innovation, increased profits, better personalization, and provision of omnichannel business automation. In fact, about 32% percent of banking respondents and 36% of insurance respondents expect AI to be a \u201cgame-changer\u201d for their enterprise in\u202f2021 [2]. And in the future, an additional 25% of banks and 23% of insurers\u202fplan to\u202fdeploy AI in the next 12 months [2].<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">&nbsp;<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">This blog elaborates on how Artificial Intelligence is influencing players in banking and financial services and provides insights about Simplifai\u2019s AI-powered <a href=\"http:\/\/simplifai-new\/simplifai-digital-employee\/\"><span style=\"text-decoration: underline\"><strong>Digital Employees<\/strong><\/span><\/a> and how they can be a cornerstone of AI adoption in the BFSI sector.<\/span><\/p>\n\n<h4 class=\"wp-block-heading\"><b><span data-contrast=\"auto\">Artificial Intelligence in banking and finance: post-pandemic growth spurt<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">&nbsp;<\/span><\/h4>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">The use of Artificial Intelligence is not new in BFSI. Approximately 25% of banks and 31% of insurers were already deploying AI in\u202f2020 [2]. However, before the Covid-19 pandemic, banks and other financial service organizations did face some obstacles while moving from traditional operating systems to AI-based business automation. Lack of a clear strategy, funding, inability of incumbent systems to scale up with new tech, and unstable regulatory mechanisms were prime hurdles for the same.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">&nbsp;<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">However, contrary to expectations the post-pandemic times led to an enhanced growth rate of AI in the BFSI sector against these obstacles. For example, 35% of banks reported after the first pandemic wave that AI had a positive impact on technologies that support remote working. With work cultures shifting to remote and hybrid operations, many players in the industry have moved to AI and Machine Learning powered tools for automating daily processes. In fact, just during the initial stages of the Covid-19 pandemic, the use of mobile and online banking facilities increased by almost 50%, consequently leading to a rise in digital banking services [2].<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">&nbsp;<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">These scenarios set up the main drivers for Artificial Intelligence in banking and finance, which are \u2013 preserving brand reputation, adhering to compliance requirements, and maintaining consumer trust. Whereas the use-cases of these drivers include process automation of operations, product pricing, customer self-service, and supporting complex decision-making strategies [2].<\/span><\/p>\n\n<h4 class=\"wp-block-heading\"><b><span data-contrast=\"auto\">Key Artificial Intelligence technologies in banking and finance<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">&nbsp;<\/span><\/h4>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">After proving that AI-based automation can handle several day-to-day tasks in BFSI at a scalable level, there are a handful of AI technologies being used consistently in the sector. At the front office, conversational bots for customer service, automated document handling, facial recognition, and micro-expression analysis, are some of these technologies [1]. Whereas in back-office departments, natural language processing (NLP), biometrics, automated fingerprint analysis, Machine Learning for cybersecurity and fraud detection, and AI-powered real-time transaction analysis for risk monitoring are being utilized.<\/span><\/p>\n\n<h4 class=\"wp-block-heading\"><b><span data-contrast=\"auto\">Focus areas for AI deployment in the banking and financial services sector<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">&nbsp;<\/span><\/h4>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">CIOs prefer using AI tech for deployment in four areas which are \u2013 customer service, operational models, performance monitoring and analytics, and risk mitigation.<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">For improved customer service, digitization of all repetitive processes such as payment platforms, customer inquiries, retail offerings, and investment offerings are now handled by Artificial Intelligence in banking and finance organizations. For operational purposes, the focus areas are \u2013 the replacement of physical branches with virtual branches that incorporate AI in mobile banking, chat modules, virtual 24\/7 customer service centers, and automated email communications for smoother customer service [3].<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">In analytics and performance monitoring, Artificial Intelligence is used with the help of Natural Language Processing and Machine Learning to handle documents with unstructured data, predictions and forecasting of results and performance, generating insights, and data classification. Whereas for risk mitigation, AI and RPA are used to reduce human errors and improve process accuracy, and for improved fraud detection and cyber security purposes.<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">&nbsp;<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">&nbsp;<\/span><\/p>\n\n<h4 class=\"wp-block-heading\"><b><span data-contrast=\"auto\">How can Simplifai\u2019s AI solutions transform the BFSI sector?<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:257}\">&nbsp;<\/span><\/h4>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"none\">Simplifai offers AI-powered digital solutions called Digital Employees that can be configured in the no-code Simplifai Studio platform that provides Intelligence Process Automation for all business needs. Digital Employees comprise individual products such as <strong><a href=\"http:\/\/simplifai-new\/no\/emailbot\/\">Emailbot<\/a><\/strong>, <strong><a href=\"http:\/\/simplifai-new\/no\/dokumentbot\/\">Documentbot<\/a><\/strong>, and <a href=\"http:\/\/simplifai-new\/no\/chatbot\/\"><strong>Chatbot<\/strong><\/a>, together with the Rules Engine and Decision Engine. These solutions can offer high-grade automation to any organization in the banking and financial services sector. The solutions can streamline day-to-day business operations at the front office as well as back-office departments.<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"none\">Powered by Natural Language Understanding (NLU), the Emailbot can read and interpret information from multiple email inquiries, classify them, identify the intention of the inquiries and take suitable actions with the help of the decision engine. With regards to the Documentbot, this product is powered by Natural Language Processing and Optical Character Recognition. It can process documents from email attachments, email uploads, and online folders, classify them, forward them to respective stakeholders and streamline overall document handling.<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"none\">Inferring from what Simplifai products and solutions can do as mentioned above, they indeed are game-changing technology under Artificial Intelligence for Banking and Finance sector and its operations. Customer service, transactional processes, data archiving and classification, building customer profiles, and financial trading are some of the key areas where Simplifai\u2019s AI products like Emailbot and Documentbot can be used extensively.<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><b><span data-contrast=\"none\">Sources<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"none\">[1] Biswas, S. et.al., <\/span><span data-contrast=\"none\">AI-bank of the future: Can banks meet the AI challenge? (2020, Sept 19). McKinsey &amp; Company. <\/span><a href=\"https:\/\/www.mckinsey.com\/industries\/financial-services\/our-insights\/ai-bank-of-the-future-can-banks-meet-the-ai-challenge\"><span data-contrast=\"none\">https:\/\/www.mckinsey.com\/industries\/financial-services\/our-insights\/ai-bank-of-the-future-can-banks-meet-the-ai-challenge<\/span><\/a><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:240,&quot;335559739&quot;:0,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"none\">[2] Harris-Ferante, K., D\u2019Orazio, V., Financial Services CIOs Must Focus AI Investments on \u2018Responsible AI\u2019 in 2021 (2021, Jan 5). Gartner. <\/span><a href=\"https:\/\/www.gartner.com\/document\/3995169?ref=solrResearch&amp;refval=316258068\"><span data-contrast=\"none\">https:\/\/www.gartner.com\/document\/3995169?ref=solrResearch&amp;refval=316258068<\/span><\/a><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:240,&quot;335559739&quot;:0,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-contrast=\"auto\">[3] Purwar, N. Key Trends Shaping the Use of AI in Banking and Financial Services, (2021, Feb 10). UiPath. <\/span><a href=\"https:\/\/www.uipath.com\/blog\/industry-solutions\/key-trends-ai-use-banking-financial-services\"><span data-contrast=\"none\">https:\/\/www.uipath.com\/blog\/industry-solutions\/key-trends-ai-use-banking-financial-services<\/span><\/a><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">&nbsp;<\/span><\/p>\n\n<h6 class=\"wp-block-heading\"><strong><i>Written by,<\/i><\/strong><\/h6>\n\n<h6 class=\"wp-block-heading\"><strong><i>Gaurav Athavale \u2013 Senior Content Writer at Simplifai<\/i><\/strong><\/h6>\n\n<p class=\"wp-block-paragraph\"><strong>About Simplifai<\/strong><\/p>\n\n<p class=\"wp-block-paragraph\"><em>Simplifai is an AI solutions company that provides end-to-end automation for businesses dealing with free text emails, documents, and chat communications.<\/em><\/p>\n\n<p class=\"wp-block-paragraph\"><em>Along with RPA, API, and advanced NLP technology. Simplifai offers AI modules and tailored Digital Employee solutions that work with any third-party system programmed to carry out specific tasks at the front- and back-end with high-grade automation.<\/em><\/p>\n\n<p class=\"wp-block-paragraph\"><em>Want to know more about our Digital Employees? Click the button below for more information:<\/em><\/p>\n<p>[av_button label=&#8217;Learn about Digital Employees&#8217; icon_select=&#8217;no&#8217; icon=&#8217;ue800&#8242; font=&#8217;entypo-fontello&#8217; link=&#8217;page,25546&#8242; link_target=&raquo; size=&#8217;large&#8217; position=&#8217;left&#8217; label_display=&raquo; title_attr=&raquo; color_options=&raquo; color=&#8217;theme-color&#8217; custom_bg=&#8217;#444444&#8242; custom_font=&#8217;#ffffff&#8217; btn_color_bg=&#8217;theme-color&#8217; btn_custom_grad_direction=&#8217;vertical&#8217; btn_custom_grad_1=&#8217;#000000&#8242; btn_custom_grad_2=&#8217;#ffffff&#8217; btn_custom_grad_3=&raquo; btn_custom_grad_opacity=&#8217;0.7&#8242; btn_custom_bg=&#8217;#444444&#8242; btn_color_bg_hover=&#8217;theme-color-highlight&#8217; btn_custom_bg_hover=&#8217;#444444&#8242; btn_color_font=&#8217;theme-color&#8217; btn_custom_font=&#8217;#ffffff&#8217; btn_color_font_hover=&#8217;white&#8217; btn_custom_font_hover=&#8217;#ffffff&#8217; border=&raquo; border_width=&raquo; border_width_sync=&#8217;true&#8217; border_color=&raquo; border_radius=&raquo; border_radius_sync=&#8217;true&#8217; box_shadow=&raquo; box_shadow_style=&#8217;0px,0px,0px,0px&#8217; box_shadow_color=&raquo; hover_opacity=&raquo; sonar_effect_effect=&raquo; sonar_effect_color=&raquo; sonar_effect_duration=&#8217;1&#8242; sonar_effect_scale=&raquo; sonar_effect_opac=&#8217;0.5&#8242; id=&raquo; custom_class=&raquo; template_class=&raquo; av_uid=&#8217;av-pet3wk&#8217; sc_version=&#8217;1.0&#8242; admin_preview_bg=&raquo;]<\/p>\n\n<h3 class=\"wp-block-heading\"><b><span data-contrast=\"none\">Read more:<\/span><\/b><\/h3>\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"http:\/\/simplifai-new\/no\/blogg\/kunstig-intelligens-teknologi\/ai-in-financial-services-industry\/\"><b>The world of financial services stands on a brink of permanent transformation as applications based on AI for finance take giant strides<\/b><\/a><\/strong><\/p>\n\n<p class=\"wp-block-paragraph\"><span style=\"text-decoration: underline\"><strong><a href=\"http:\/\/simplifai-new\/no\/blogg\/kunstig-intelligens-teknologi\/make-a-difference-to-your-business-with-intelligent-process-automation-ipa\/\">Make a Difference to your Business with Intelligent Process Automation (IPA)<\/a><\/strong><\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span style=\"text-decoration: underline\"><strong><a href=\"http:\/\/simplifai-new\/no\/blogg\/kunstig-intelligens-teknologi\/impact-of-artificial-intelligence-on-the-insurance-industry\/\">Impact of Artificial Intelligence on the Insurance Industry<\/a><\/strong><\/span><\/p>\n\n<p class=\"wp-block-paragraph\"><span style=\"text-decoration: underline\"><strong><a href=\"http:\/\/simplifai-new\/no\/blogg\/kunstig-intelligens-teknologi\/no-dearth-of-scope-for-intelligent-process-automation-whats-next-on-the-horizon-for-process-automation\/\">No dearth of scope for Intelligent Process Automation: What\u2019s next on the horizon for process automation<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this AI-powered age, improving customer service, better connectivity, and regulating operational costs are some of the desired advancements that industries in the BFSI sector look forward to. According to McKinsey &amp; Company, Artificial Intelligence in Banking and Finance potentially could unlock about USD 1 trillion in value generation in the sector [1].&nbsp; Being an&#8230;<\/p>\n","protected":false},"author":9,"featured_media":29542,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","event_date":""},"categories":[18,24],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.13 (Yoast SEO v20.13) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Influence of Artificial Intelligence on the Banking and Financial Services sector: Key Insights - Simplifai<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"nb_NO\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Influence of Artificial Intelligence on the Banking and Financial Services sector: Key Insights\" \/>\n<meta property=\"og:description\" content=\"In this AI-powered age, improving customer service, better connectivity, and regulating operational costs are some of the desired advancements that industries in the BFSI sector look forward to. 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