New Delhi, June 9: Public sector banks (PSBs) are rapidly adopting artificial intelligence (AI) to enhance customer service, operational efficiency, and risk assessment. This was stated by Arundhati Bhattacharya, President and CEO of Salesforce India and South Asia, in a special interview.
In her discussion, the former chairperson of the State Bank of India (SBI) emphasized that PSBs have recognized the need to keep pace with the rapidly evolving technological landscape. She noted that these banks have a unique trait: once they decide on a change, they implement it swiftly.
“Public sector banks are now realizing that they must be part of this new era. The good thing about these banks is that when they make a decision, they move forward quickly,” she said.
According to Bhattacharya, many government banks are not just adopting technology in phases but are instead aiming to leap directly to cutting-edge solutions. This reflects their intent to accelerate digital transformation.
She specifically highlighted the potential of “agentic AI,” a technology capable of operating independently and interacting with users. She believes this could significantly enhance customer service in the banking sector, which has long faced challenges in this area.
“Agentic AI is particularly well-suited for customer service, a longstanding challenge in banking,” Bhattacharya remarked.
She explained that AI could strengthen banks’ underwriting processes by analyzing data from various sources to identify potential risks and reduce decision-making errors. This technology will not only boost operational efficiency but also help banks connect with customers more effectively.
Moreover, AI-driven tools can assist banks in reaching more customers, offering personalized services, and enhancing employee productivity.
Bhattacharya noted that Salesforce has seen increased customer engagement after integrating agentic AI into its support systems. “When we added a layer of agentic AI to our helpline, we found that customers began asking more questions because they were receiving useful answers. This principle could also apply in the banking sector,” she stated.
Looking ahead, Bhattacharya asserted that AI will play a crucial role in shaping the future of banking. Financial institutions are continuously exploring its potential applications in areas such as customer service, loan distribution, risk management, and operations.
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