Impact of Artificial Intelligence on Indian Banking Sector- A Study of Banks

Abstract

Artificial intelligence, or AI, is a cross-disciplinary approach to understanding, modeling, and creating intelligence of various forms. It is a critical branch of cognitive science, and its influence is increasingly being felt in other areas, including the humanities. Intelligence might be defined as the ability to learn and perform suitable techniques to solve problems and achieve goals, appropriate to the context in an uncertain, ever-varying world. A fully pre-programmed factory robot is flexible, accurate, and consistent but not intelligent. Artificial Intelligence (AI), a term coined by emeritus Stanford Professor John McCarthy in 1955, was define as “the science and engineering of making intelligent machines”. Much research has humans program machines to behave in a clever way, like playing chess, but, today, people emphasize machines that can learn, at least somewhat like human beings do.  Autonomous systems can independently plan and decide sequences of steps to achieve a specified goal without micro-management. A hospital delivery robot must autonomously navigate busy corridors to succeed in its task. In AI, autonomy doesn’t have the sense of being self-governing common in politics or biology.