Indian Institute of Technology (IIT) Roorkee, in collaboration with WileyNXT, India’s skill assessment and recruitment solution, has announced the launch of AI in banking programme.
India’s first-of-its-kind online programme, ‘AI in Banking’ has been designed for existing as well as recently-graduated technology and finance professionals, who aspire to build a career in artificial intelligence and analytics in the banking domain. The four-month programme will focus on training IT professionals and graduates to implement artificial intelligence in the banking sector.
When asked, Prof. Ajit K. Chaturvedi, Director, IIT Roorkee said, “Artificial Intelligence has the potential to transform banking and improve compliance.” In fact according to him this pandemic along with the increasing security and privacy concerns, has urged companies to leverage new-age skills to tackle the emerging challenges. “We are delighted to collaborate with WileyNXT to launch this programme. The programme will open new avenues for the participants in the banking sector,” said Chaturvedi.
The AI in Banking programme will cover industry immersion classes by expert business leaders to give an profound understanding of the role of AI in banking and financial industry. Further, the course will offer a joint certification from WileyNXT and IIT-Roorkee.
Vikas Gupta, Managing Director, Wiley India, while commenting on the collaboration said, how the company is focused on bridging an industry-wide skill gap. He said, “There is a tremendous emphasis on automation to accelerate the development and deployment of products in the Banking and Finance sector. This has fuelled the demand for a digitally-enabled workforce. Our innovative learning solutions are meant to cater to modern workplace demands. WileyNXT provides a platform for individuals to enhance the academic and professional impact of their career.”
As a matter of fact, according to a joint research conducted by the National Business Research Institute and Narrative Science, it has been observed that about 32% of financial service providers in India are already using AI technologies like predictive analytics, voice recognition for their bsuienss. Some of the leading banks like SBI, HDFC, ICICI, among others, have adopted artificial intelligence in their system.
According to the company release, the present global pandemic has seen a movement towards digital and virtual platforms, and even the banking sector is shifting towards contactless banking. It will encompass the processes such as digital onboarding of customers enabled by video KYC (know-your-customer), contactless authentication and payments, virtual customer servicing, and immersive banking experience. Technologies such as artificial intelligence will be highly used to develop interactive banking-customer experience. This is an opportunity for professionals and graduates who want to equip themselves with trending skills and have a competitive edge over their peers.