- Published on April 30, 2025
- In AI Features
Smart Money: How AI is Disrupting India’s BFSI Game
AI transforms India’s banking, financial services, and insurance sector with automation, fraud detection, and faster, smarter financial services delivery.
- By Supreeth Koundinya
Visiting a bank, insurance office, or any financial institution can feel overwhelming due to long queues, tedious paperwork, and repetitive procedures. And, as it does for most problems in life today, AI is poised to play the saviour in India’s banking, financial services, and insurance (BFSI) industry, given its capabilities.
At Microsoft’s AI Boardroom event, Nitin Chugh, head of digital banking and transformation at the State Bank of India, highlighted how the firm is leveraging AI for various operations. He revealed that SBI utilises more than 150 AI models across multiple sectors, including business, fraud, risk management, customer service, employee productivity, and others.
The Big Banks of India Have Embraced AI
The banking firm utilises several conversatio
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Supreeth Koundinya
Supreeth is an engineering graduate who is curious about the world of artificial intelligence and loves to write stories on how it is solving problems and shaping the future of humanity.
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