CURRENT AFFAIRS

Detailed explanation-1: -RBL Bank has chosen Amazon Web Services (AWS), the cloud computing arm of Amazon.com to strengthen its artificial intelligence (AI)-based banking solutions and drive digital transformation at the bank.

Detailed explanation-2: -Prediction of future outcomes and trends: With its power to predict future scenarios by analyzing past behaviors, AI helps banks predict future outcomes and trends. This helps banks to identify fraud, detect anti-money laundering pattern and make customer recommendations.

Detailed explanation-3: -Q. Which bank has launched India’s first Artificial Intelligence (AI)-based banking chatbot “Electronic Virtual Assistant (EVA) for customer service? Notes: HDFC Bank has recently launched India’s first Artificial Intelligence (AI)-based banking chatbot “Electronic Virtual Assistant (EVA)” for customer service.

Detailed explanation-4: -Chatbots are examples of AI in banking that are replacing the front-desk scenes at the banks. These AI-led machines provide next level digitized and customized interactive experiences to the customers. Learn more about creating a chatbot using Python.

Detailed explanation-5: -Servicing and engagement AI-powered decisioning can enable banks to create a smart, highly personalized servicing experience based on customer microsegments, thereby enabling different channels to deliver superior service and a compelling experience with interactions that are fast, simple, and intuitive.