• Dr Mamatha k r

Integrating Artificial Intelligence (AI) into the Indian banking sector is a transformative yet challenging journey. This report explores the nuanced landscape surrounding AI adoption in Indian banking, highlighting both the challenges ahead and the industry's ability to adapt. In the Indian context, the adoption of AI in banking faces many challenges. Data protection and data security are vital concerns, with strict regulations and the need to protect sensitive customer data. In addition, the interpretability and explainability of AI algorithms present obstacles necessary to comply with regulations and ensure customer trust. Addressing biases inherent in AI models is critical to maintaining fairness and inclusion across customer demographics. In addition, navigating India's complex regulatory framework, including compliance with data protection laws and banking regulations, presents significant barriers to AI adoption. Despite these challenges, AI holds enormous potential for the Indian banking sector. Improved fraud detection and prevention capabilities can strengthen security measures and reduce financial risks. Artificial intelligence-based customer service solutions such as chatbots and virtual assistants can revolutionize customer interactions and improve service accessibility. Additionally, AI can enable banks to tailor their offerings to the diverse needs and preferences of Indian consumers. The strategic integration of AI along with expert rules and ethical considerations promises to transform the Indian banking world and usher in a new era of efficiency, innovation and customer centricity.

AI, Banking, Cybersecurity, Challenges

"“Artificial intelligence in banking:-challenges and adaptability”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 1, page no.e531-e542, January-2025, Available :http://www.jetir.org/papers/JETIR2501470.pdf

"“Artificial intelligence in banking:-challenges and adaptability”", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 1, page no. ppe531-e542, January-2025, Available at : http://www.jetir.org/papers/JETIR2501470.pdf