Public sector banks are increasingly adopting artificial intelligence (AI) and modern technologies to enhance customer service, operational efficiency, and risk assessment, as stated by Arundhati Bhattacharya, President and CEO of Salesforce India and South Asia. Bhattacharya highlighted that public sector banks are recognizing the importance of adapting to rapid technological advancements and are eager to swiftly embrace transformation when committed.
She emphasized that many state-run banks are looking to directly transition to cutting-edge technologies rather than gradually incorporating them, showcasing their readiness for rapid digital evolution. Bhattacharya pointed out the potential of agentic AI, which can independently perform tasks and interact with users, particularly in enhancing customer servicing within the banking industry.
AI, according to Bhattacharya, can enhance banks’ underwriting processes by analyzing data from various sources, identifying risks, and minimizing decision-making errors. Furthermore, AI technologies can boost operational efficiency, facilitate better customer engagement, expand customer outreach, offer personalized services, and increase productivity for banks.
Salesforce observed improved customer engagement upon introducing an agentic AI layer in its support systems, leading to increased customer queries due to the provision of valuable responses. Bhattacharya emphasized that AI is anticipated to have a significant role in shaping the future of banking, with financial institutions exploring its applications in customer service, lending, risk management, and operations.
