BFSI Leaders discuss autonomous banking possibilities in the virtual summit ‘Future of Banking’, organized by DaveAI in partnership with Intel.

On September 03rd, 2020, DaveAI in Partnership with Intel Corporation organised the “Future of Banking” summit, which brought in more than 150 attendees from various banking & financial services enterprises from India. The virtual summit discussed autonomous banking possibilities in the future like digi-branches and virtual bank branches powered by Virtual Avatars, which as a concept was well received by the audience.

• Technology and Digital leaders in Banks & Financial institutions have been exploring how digital technologies can augment the user experience in physical branches and online, by creating new self- assisted customer touch points. On the topic of how digital adoption has accelerated in banks, Mr. Pankaj Gupta – Chief Digital & Marketing Officer at Karnataka Bank emphasized the need for enterprises to keep the human element at the core of their transformation journey to create new user experiences.

• AI Enabled Edge Computing Systems are gaining traction with financial enterprises due to its capability to deliver a superior quality of service without latency and that is highly secure. Hence, in the virtual event, Mr. Seong Boon Ngoo – GM Banking at Intel Corporation, had shared the impact of AI, IOT and Deep Learning on bank branches. Using an example of a 3D model of the banking space which showcased the banks in future digital transformation strategy should focused on tailoring good customer experience at every point.

• Trends like Virtual Bank Licenses being issued by various countries like Singapore & Hong Kong, Neo Banks in India are clear indicators on how banking is evolving. Giving a perspective on how financial institutions can leverage Edge AI technology to humanize digital conversations, Dr. Ananthakrishnan Gopal – Co-founder & CTO at DaveAI did a live demonstration of a Virtual Human Avatar handling customer engagement across different banking scenarios.

Enterprises in emerging markets face several challenges to scale innovations around customer experience beyond pilot deployments. Mr. Sriram, Co-founder & CEO, DaveAI moderated a panel comprising of Mr. Sivakumar N, Chief Digital Officer at Fedbank financial services, Mr. Hareesh S – Segment Marketing Manager at Intel Corporation and Dr. Ananth – Co-founder & CTO at DaveAI that discussed the role of every stakeholder in the ecosystem to effectively scale innovations.

Intel and DaveAI are co-creating solutions that will bring state of the art artificial intelligence technology to the edge enabling a whole new dimension of customer experience for the Banking and Financial Services Industry. Views expressed by speakers were in their personal capacity and their employer organizations do not endorse their views.