Digitisation is revolutionising traditional finance and improving access to affordable services, yet it also poses human-resource challenges that necessitate strategic skilling and reskilling, said Reserve Bank of India Governor Shaktikanta Das in the 2023-24 Currency and Finance Report.
"...digitalisation presents challenges related to cybersecurity, data privacy, data bias, vendor and third-party risks, and customer protection. Increased inter-connectedness may lead to systemic risks. Additionally, emerging technologies can introduce complex products and business models with risks that users may not fully understand, including the proliferation of fraudulent apps and mis-selling through dark patterns. Digitalisation may induce human resource challenges in the financial sector, necessitating strategic investments in upskilling and reskilling," Das said.
This story is from the July 30, 2024 edition of Business Standard.
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This story is from the July 30, 2024 edition of Business Standard.
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