The BFSI has been at the forefront of tech adoption. Now we can transfer money, see our account details, book a policy, etc., with just a tap of a button. BFSI sector is not only investing a lot in the transaction process but also investing millions of dollars to improve customer support services and security.; in these investments, Artificial Intelligence holds a major chunk of the share.
According to Allied Market Research, the valuation of AI in BFSI was pegged at USD 17.765 billion in 2018 and is expected to reach USD 247.367 billion by 2026 – registering a CAGR of a whopping 38.0%! This exponential growth points towards the discovery of practical and viable use cases of conversational AI in the sector, which we will be exploring in the following segment.