• Dr. E. Madhavi

Artificial Intelligence (AI) is rapidly provides its services to the financial sector across the globe.AI revolutionizes banking and insurance by streamlining operations, reducing risks through cyber security, and offering more services to the customers. AI encompasses various technologies like machine learning, natural language processing, and computer vision, all working together to analyze data, make decisions, and automate processes. In banking, AI is being used to improve customer service, enhance security, and provide personalized financial solutions. AI also aids in portfolio management, optimizing investment strategies. AI in insurance refers to the application of artificial intelligence technologies to improve various aspects of the insurance industry, including risk assessment, fraud detection, customer service and claims processing. AI-powered tools help insures analyze vast amounts of data more effectively, leading to better decision making, personalized services, and increased operational efficiency in insurance industry. The insurance industry has more extensive use of data and algorithms, such as in the calculation of insurance premiums and processing personal and non-personal data in the underwriting process to assess risks and price insurance policies. AI enhances those capabilities at increased scale and speed.

Artificial Intelligence, Banking and Insurance

"ROLE OF AI IN THE FIELD OF BANKING AND INSURANCE", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.12, Issue 8, page no.151-154, August-2025, Available :http://www.jetir.org/papers/JETIRHC06021.pdf

"ROLE OF AI IN THE FIELD OF BANKING AND INSURANCE", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.12, Issue 8, page no. pp151-154, August-2025, Available at : http://www.jetir.org/papers/JETIRHC06021.pdf