CURRENT AFFAIRS

Detailed explanation-1: -HyperVerge announced its partnership with SBI, with one of its flagship products, the Video Banking solution, which aims to achieve a 10x improvement in the number of account openings per day per agent.

Detailed explanation-2: -Detailed Solution HyperVerge has announced its partnership with SBI, with one of its flagship products, the Video KYC solution which aims to achieve a 10x improvement over the regular video KYC checks performed per day per agent. It will provide convenient digital banking services to citizens of India.

Detailed explanation-3: -Capital One. Capital One is another example of a bank embracing the use of AI to better serve its customers. In 2017, the bank released Eno, a virtual assistant that users can communicate with through a mobile app, text, email and on a desktop.

Detailed explanation-4: -Leading the digitisation and adoption of AI in the Indian banking systems are private financial institutions like ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, etc.

Detailed explanation-5: -AI is particularly helpful in corporate finance as it can better predict and assess loan risks. For companies looking to increase their value, AI technologies such as machine learning can help improve loan underwriting and reduce financial risk.