Alok Kumar Agarwal Alankit Explores AI and Machine Learning's Impact on India's Financial Realm

In the fast-changing world of financial technology (fintech), India is leading the pack in using advanced tech to transform its financial sector. Over the past twenty years, India's banking, financial services, and insurance (BFSI) sector has grown significantly, shifting the country from a cash-heavy economy to one that's embracing digital solutions.

Alok Kumar Agarwal Alankit, an experienced figure in the industry and former Managing Director of Alankit, explains that artificial intelligence (AI) and machine learning (ML) are driving this transformation. These technologies are making processes more efficient, secure, and accessible. According to Alankit, AI and ML are sparking a significant revolution in how financial services work.

Alankit points out that AI and ML are helping in various ways. They're improving fraud detection, creating personalized experiences for customers, and making routine tasks easier. This tech integration isn't just making things run smoother and keeping customers happier—it's also shaping where India's financial sector is headed. From predicting trends to assessing risks, AI and ML play a crucial role in making better decisions and improving performance across different financial services.