In an institution or bank, there are many tasks that need to be performed repeatedly, which we call work duplication, and these consume a lot of employee time. Alongside customer service, AI and ML significantly enhance the efficiency and security of financial institutions.
Even today, while cooperative credit societies and banks are striving to resolve issues in the CBS (Core Banking System) and keep it updated, technologies like Artificial Intelligence (AI) and Machine Learning (ML) are rapidly entering the banking sector, taking customers toward modern banking. These technologies are providing customers with a simpler, more hyper-personalized banking experience, exceeding their expectations from the bank. The question arises: do we in the cooperative sector need to consider these technologies so soon? The answer is certainly yes. But before explaining this in detail, let us first understand exactly what Artificial Intelligence (AI) and Machine Learning (ML) are...(To continue, open the magazine)