This sector won’t see job losses due to chatbots, artificial intelligence
Advertisement
The Indian banking sector is claiming that chatbots and Artificial Intelligence won’t take away jobs, even as the financial sector wants technology to give enhanced customer experience.
Many experts have said AI will results in job losses in various sectors, however, banks saychatbots and AI will just compliment the staff members.
It is worth mentioning the State Bank of India (SBI) is working with IBM to make use of Watson - an answering computer software to assist staff and employees.
Even HDFC Bank has tied up withartificial intelligence firm Niki to bring in conversational banking. Similarly, Yes Bank along with Payjo will launch AI-led digital initiatives.
"We find that chatbots are useful for employees. For instance, if an employee has entered a particular screen and does not know how to proceed, the software will sense inactivity and a bot will pop-up offering assistance," Mrutyunjay Mahapatra, deputy MD and chief information officer, SBI, told ET.
Nitin Chugh, digital banking head HDFC Bank , told ET the website chatbot has seen one lakh conversations in one week, with the bot concurrently running 700-750 conversations.
However, he says bots are not there to replace customer executives. "In any case the routine queries are moving to the self-service mode. Most of the calls now pertain to when the caller is worried about a transaction and wants to speak to a human," Chugh told ET.
Advertisement
Many experts have said AI will results in job losses in various sectors, however, banks say
It is worth mentioning the State Bank of India (SBI) is working with IBM to make use of Watson - an answering computer software to assist staff and employees.
Even HDFC Bank has tied up with
"We find that chatbots are useful for employees. For instance, if an employee has entered a particular screen and does not know how to proceed, the software will sense inactivity and a bot will pop-up offering assistance," Mrutyunjay Mahapatra, deputy MD and chief information officer, SBI, told ET.
Advertisement
However, he says bots are not there to replace customer executives. "In any case the routine queries are moving to the self-service mode. Most of the calls now pertain to when the caller is worried about a transaction and wants to speak to a human," Chugh told ET.
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market