Artificial Intelligence In BFSI Sector

The major business growth drivers for data analytics and artificial intelligence player Qlik are the government sector, Banking, Financial Services, and Insurance (BFSI), and pharma, according to the US-based firm's Managing Director (India), Varun Babbar. "We see a lot of initiatives by various state governments as well as central governments where they are revamping their whole data ecosystem and building the right data foundations to build AI-driven projects," Babbar told PTI. Banking and financial services have been early adopters of technology, and they were the first ones to build data warehouses and data lakes, he said, adding that there is a lot of innovation being done by them. Besides, he said, pharma is another vertical where a lot of traction is taking place. On the government side, he said, the company is working with three states apart from various public sector companies, including Indian Oil Corporation. "We see a lot of initiatives built by various state governmen

Meanwhile, at the bourses, in the last one year, RIL stock has outperformed the market by rising nearly 17 per cent compared to the 12 per cent rise in the Nifty 50 index, data shows

Day 2 saw discussions on AI deployment across defence, telecom, healthcare and agriculture, as the government pushed sovereign AI development and outlined plans to attract $200 billion in investments

There is a convergence in priorities among central banks as they adopt AI, which includes using AI to enhance decision-making, improve operational efficiency, and manage risks effectively, survey said

According to the India Skills Report 2026, India now contributes 16 per cent of the world's AI talent, projected to grow to 1.25 million professionals by 2027

Top treasury and market heads from Citi, ICICI Bank and HDFC Bank discuss how India is balancing fiscal support, and fund flows in a volatile world economy at the BS BFSI Insight Summit in Mumbai

India's private equity leaders say unutilised capital isn't a sign of slowdown but a marker of maturity, as deal quality, domestic funding, and exits grow stronger.

Experts at the Business Standard BFSI Insight Summit say devices are fast evolving from passive tools to AI-powered platforms at the core of fintech innovation and secure digital transactions

A city-based foundation has come up with an artificial intelligence-enabled pendant embedded with a QR code for cows to ensure their well-being and safety. The "Gau Raksha Kavach" pendant will remind one of the vaccination date of the cow through an email or SMS. When scanned, the code will show the medical history of the cow on the spot. The pendant has a reflective collar which will save stray cows from road accidents. This initiative was launched by the Ridlan AI Foundation on Wednesday. BJP leader and former MP Poonam Mahajan launched the pendants on Wednesday. This is a very brilliant idea of AI-complied pendants for cows from the old culture of India. I am blessed to connect with leaders of India who think about giving back to the society, giving voice to the voiceless," Mahajan said remembering former PM Atal Bihari Vajpayee on his birth centenary. "I have been working for animals, and with Akshay, founder of the Ridlan AI Foundation, we have done this unique program in th

Subramanian said India should follow the global practice where the bourses and the regulator need to be informed when there is a violation of a technical covenant

To fortify its BFSI vertical, Wipro is investing in technologies like cloud and AI. Dann mentioned that Wipro's recent $1 billion investment in AI aligns with this vision

Das as the RBI Governor is widely credited with having spearheaded RBI's proactive approach in handling the economic impact of the Covid-19 pandemic with 'whatever it takes' approach

Broader markets, especially automobile stocks, may also react negatively going ahead

The report also said more than 80% of respondents from the banking and financial services industry say they have deployed chatbots to make customer servicing easy.

Banks and financial services firms are prioritising digital innovation to address existing and emerging risks

The rise of self-service technology for partners and consumers drastically reduced the servicing cost for enterprises and improved customer satisfaction