About the author
Shashi Kant Sharma Chief Manager (Faculty) Union Bank of India Staff Training Centre Gurugram, Haryana
Swedish philosopher Nick Bostrom, in his book Super Intelligence, says, Machine learning is the last invention for mankind. From electronic trading platforms to medical diagnostics, robot control, entertainment, education, health and commerce, Artificial Intelligence services and digital disruption have hit every sector in the 21st century. AI has made its presence felt across all sectors due to its ability to help consumer innovation. This enables users to make faster and more informed decisions with increased efficiency.
Of late, the banking sector is becoming an active adapter of artificial intelligence - exploring and implementing this technology in new ways. The entry of artificial intelligence into the banking sector was not recognized and slowed down until the era of Internet banking.
1. Artificial narrow intelligence (ANI) :- It has a narrow range of ability, it is basically goal oriented.
2. Strong AI is named as AGI :- Artificial General Intelligence (Hypothetical Ability of an intelligent agent at par with human capability
3. Natural AI is named as ABI :- Artificial Biological Intelligence or Artificial super Intelligence (Property of a machine to understand or self aware and surpass the cognitive ability, memory, learning and decision making, it is more capable than human.
Importance One of the first steps was introducing Ally Bank (USA) -Allie Assistant in 2015, which can respond to voice and text, make payments on behalf of the customer, summarize the account, monitor savings, spend systems and use natural language processing to understand and resolve customer queries.
Diese Geschichte stammt aus der January 2022-Ausgabe von BANKING FINANCE.
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Diese Geschichte stammt aus der January 2022-Ausgabe von BANKING FINANCE.
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Banking and Financial Services: Paving the Way for India's Development
The adoption of digital payments through platforms like the Unified Payments Interface (UPI) has made cashless transactions a norm. The rapid growth of fintech has democratized access to financial products, making it easier than ever for people across the country to manage their finances.
Reigning in Finfluencers amidst Increased Retail Market Participation
The absolute number of investors in India is higher compared to mature markets like U.S, China and others, while the per capita figures are still lower indicating enough headroom for growth. Younger generation in age group of 21 to 35 years are leading this wave of new investors. This massive growth in retail participation is multidimensional consisting of Economic, Structural and Behavioural drivers.
The Rise of ESG Investing: Global Trends and Opportunities in the Indian Market
Environmental, Social, and Governance (ESG) investing has emerged as a transformative trend in global financial markets. As the world grows more conscious of sustainability, investors are moving away from traditional profit-driven strategies towards investments that align with broader social and environmental values.
Thematic and Sectoral Funds: A Comprehensive Overview
In the dynamic world of mutual funds, thematic and sectoral funds have emerged as popular investment options for those looking to capitalize on specific economic trends, sectors, or themes. Unlike traditional diversified funds that spread investments across various sectors, thematic and sectoral funds focus on particular themes or sectors, offering investors the opportunity to align their portfolios with specific economic narratives or growth stories.
Bucketing Strategy
The rich cultural heritage of India is visible in the omnipresence of Forts across the Indian landscape. These structures reflect a larger-than-life style of living of India's richie rich. Even after centuries, this craze for physical asset prevail.
The Importance of Building Trust in Client Relationships
A successful engagement begins with recognizing the client's stage in life and the challenges they face. This empathetic approach sets the groundwork for providing tailored advice rather than a generic sales pitch.
The Fail Proof Model to Achieve your Financial Goals
Most of the Financial Goals fails because LACK OF DISCIPLINE strategy to achieve it. There is a say that, PEOPLE MAY FAIL BUT STRATEGY or PROCESS WON'T. Any goals with DISCIPLINED STRATEGY can increases the success rate of achieving by 90%.
The Evolution and Future of the Global Mutual Fund Industry
The global mutual fund industry has seen significant transformation over the last decade, driven by various factors such as technological advancements, changing investor preferences, regulatory reforms, and the rise of sustainable investing. These shifts have had profound implications on the mutual fund industry in India, where the market has experienced rapid growth.
Focussing on Attitude, Skill and Knowledge
One must consult a successful person in the field and walk the path. Repeat the success formula which worked for a person you can follow. Have mentors and coaches in life and the journey will become better and enjoyable.
Current Trends in Mutual Funds
Systematic Investment Plans (SIPs) have become one of the most popular investment strategies among Indian retail investors, offering a disciplined approach to wealth creation. SIPs allow investors to invest a fixed amount regularly (usually monthly) in mutual funds, thus averaging out the cost of investment and mitigating the impact of market volatility.
