CIO Wall

Upkar Singh

Director - IT - FIS Global

CIO Perspectives

Impact of Artificial Intelligence in BFSI segment

It is being said that India will become the third largest domestic banking sector by 2050 after China and the US. India’s mobile wallet industry is expected to grow at 150 per cent. Also the mobile wallet transaction will touch 480 billion USD by 2022. There are huge growth opportunities coming in the near future. These opportunities cannot be served by the present traditional approaches of BFSI sites. To take full advantage of this growth, the Indian banking sector is taking steps toward new technologies. Though the efforts are still in pilot stage, but it can be said that this will play the pivotal role in reshaping the banking industries future.

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