This is how GenAI will boost Indian financial services by 2030: Details
10 months ago

This is how GenAI will boost Indian financial services by 2030: Details

India TV News  

Generative artificial intelligence is set to boost the Indian financial services and it is further expected to potentially add around USD 66 to USD 80 billion to the GVA by 2030. In the latest EY India report, GenAI's impact on the GVA within the Financial Services sector is most significant and has been ranging from 22 per cent to 26 per cent. About 61 per cent of respondents in the financial services sector believe that GenAI will majorly impact on the entire value chain, making it more efficient and responsive to market dynamics. He further said: "In alignment with this, Indian financial services organisations are proactively forming specialised cross-functional teams and allocating dedicated funds for Gen AI deployments." When asked about executing their GenAI strategy, about 83 per cent said they expect partnering with external tech providers whereas 67 per cent expressed confidence in developing LLMs/in-house capabilities, according to the report.

Financial Financial Services Cent Genai Ey India Services Ey Boost India Indian Financial Services  indian  impact  genai  details  services  ey  report  value  financial  boost  india  2030  cent

History of this topic

‘GenAI, AI agents will be a defining force despite limitations’
3 weeks ago

‘GenAI, AI agents will be a defining force despite limitations’

Live Mint  

Generative artificial intelligence and AI agentic systems are evolving, with businesses moving beyond just the testing stage to exploring their potential for transforming operations across the enterprise, say senior executives of Automation Anywhere. "The pressure and opportunity to capitalise AI to create a competitive advantage is very intense," Ankur Kothari, the company's co-founder and chief operating officer, said in a …

SAP confident of new job creation by AI
1 month, 2 weeks ago

SAP confident of new job creation by AI

Live Mint  

German software-maker SAP SE is confident that artificial intelligence will create new jobs even as the rise of the new technology casts a shadow on jobs done by humans. The SAP board’s buoyant remarks on AI contrast with those of Google-parent Alphabet Inc’s chief executive Sundar Pichai, whose comments in the company’s post-earnings conference call with analysts put alarm bells …

GenAI's Omnipresence: A Game Changer for Enterprises
2 months, 2 weeks ago

GenAI's Omnipresence: A Game Changer for Enterprises

Live Mint  

GenAI is being deployed across the enterprise, moving beyond experiments to achieve widespread use. Enterprises are focusing on using GenAI across functions, streamlining internal processes, and explaining outcomes to employees. The real value of GenAI lies not in deployment but in using it widely, leading to tangible outcomes in areas such as customer support, software development, and marketing. The AI …

Dell banks on AI factory, GenAI growth in India
3 months ago

Dell banks on AI factory, GenAI growth in India

Live Mint  

Dell Technologies is sharpening its focus on providing artificial intelligence and generative AI solutions in India, in alignment with global trends and customer needs. The computer company plans to embed AI in its products and services and deliver "optimal infrastructure" to host AI workloads, which includes the Dell AI Factory in partnership with Nvidia, Alok Ohrie, president and managing director …

These 4 AI stocks could see incredible growth in 2025
3 months, 2 weeks ago

These 4 AI stocks could see incredible growth in 2025

Live Mint  

Artificial intelligence is a cutting-edge technology that is rapidly transforming industries, revolutionizing businesses by automating tasks, personalizing customer experiences and optimizing operations. With its vast talent pool, growing digital infrastructure, and government initiatives like Digital India, India presents significant opportunities for companies looking to leverage AI technologies. #2 Oracle Financial Services Software Oracle Financial Services Software Ltd provides financial software, …

Women Key For India's $320 Billion AI Market, But Gender Disparity Remains: NASSCOM-BCG
4 months, 2 weeks ago

Women Key For India's $320 Billion AI Market, But Gender Disparity Remains: NASSCOM-BCG

ABP News  

A new report by NASSCOM and Boston Consulting Group has highlighted the significant role women can play in India's booming artificial intelligence market, which is projected to reach $320-$380 billion by 2027. India Has 64% Gender Gap In AI Leadership Compared To Global Peers The report, titled "GenAI: The Diversity Game Changer We Can't Ignore", analysed the adoption of AI …

The AI-Fintech connection: Transforming the financial ecosystem
5 months, 4 weeks ago

The AI-Fintech connection: Transforming the financial ecosystem

Hindustan Times  

The financial ecosystem is experiencing a massive shift brought about by the rapid development of Artificial Intelligence and its integration into financial technology. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} Privacy and security concerns are also more important than ever as AI systems require huge amounts of data to work efficiently. These advisors that utilise artificial intelligence study market data, measure risk tolerance …

India's AI market to reach USD 17 billion by 2027: Nasscom
10 months ago

India's AI market to reach USD 17 billion by 2027: Nasscom

India TV News  

India’s artificial intelligence market is booming, and it is likely to grow at a 25 per cent compound annual growth rate to reach USD 17 billion by 2027, with similar growth in artificial intelligence investments. This growth has been fueled by multiple factors which include increasing enterprise tech spending, India’s growing AI talent base and a significant increase in AI …

Banks should be mindful of legal, cyber risks emanating from AI: RBI Deputy Governor
10 months, 1 week ago

Banks should be mindful of legal, cyber risks emanating from AI: RBI Deputy Governor

India TV News  

The banking sector and players in the space should be mindful of legal and cyber risks, and skill gaps emanating from Artificial Intelligence, RBI Deputy Governor T Rabi Sankar has said. NaBFID Chairman K V Kamath said what he had predicted 20 years ago has come true that banks will look like technology companies offering banking services. IBA Chairman Atul …

We are infusing GenAI into all our core offerings, says Cognizant CEO
1 year, 4 months ago

We are infusing GenAI into all our core offerings, says Cognizant CEO

Business Standard  

Cognizant Technology Solutions is infusing generative artificial intelligence into all its core offerings, chief executive Ravi Kumar S wrote in an internal note to its employees. Using this virtual assistant, our clients can boost their productivity by 25 per cent and improve their digital score through predictive resolution and contextual knowledge search,” Kumar said in the internal email. Given its …

AI Adoption Could Add $500 Billion to India's GDP By 2025: Nasscom
2 years, 6 months ago

AI Adoption Could Add $500 Billion to India's GDP By 2025: Nasscom

News 18  

The adoption of artificial intelligence and data utilisation strategy can add $500 billion to India’s GDP by 2025, a new Nasscom report showed on Thursday. The AI adoption in four key sectors — BFSI, consumer packaged goods and retail, healthcare, and industrials/automotive — can contribute 60 per cent of the total $ 500 billion opportunities, according to “AI Adoption Index” …

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