Private sector banks in India are taking the lead in the adoption of Artificial Intelligence (AI) in areas like fraud detection, customer segmentation, and chat automation, according to a Reserve Bank of India (RBI) study.

The asset size and capital adequacy ratio are influencing the rate of adoption. The size and financial health had a positive influence on the banks’ focus on AI, reflecting the impact of economies of scale and the availability of investment on technological advancement, notes the study titled ‘How Indian Banks are Adopting Artificial Intelligence?. Click here to read the full article