Nearly all (97 percent) commercial banks are using artificial intelligence (AI), according to new research from Genpact, a global professional services firm focused on delivering digital transformation; however, most financial institutions are not implementing the technology effectively for competitive advantage.More than half of the survey respondents (51 percent) are using AI simply for point solutions and individual tasks, with 27 percent testing in pilots, and only 19 percent leveraging it across the bank holistically.With pressures mounting from fintechs and other non-bank disruptors, these AI trials raise concerns about how effectively commercial banks can use the technology to improve customer experience (CX) and better compete.Close Genpact’s study, Commercial Banking: The Customer Service Imperative, surveyed 500 senior commercial banking executives on the industry’s changing landscape. related news VoPay & Hydrogen to offer clients seamless access … [Read more...] about Commercial Banks Struggle to Use AI for Competitive Impact
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The Indian benchmark indices are trading on a negative note with Nifty down 26 points at 11,838 while the Sensex shed 117 points and is trading at 39,569 level.Nifty Realty is down over 1.5 percent dragged by Godrej Properties which is down 10 percent followed by Indiabulls Real Estate, Unitech, Sunteck Realty and Sobha.From the pharma space, the top losers are Sun Pharma which is down over 2 percent followed by Lupin, Cadila Healthcare and Aurobindo Pharma.Close The top losers from the banking space are YES Bank which is down over 5 percent followed by ICICI Bank, IDFC First Bank and HDFC Bank. related news ITDC jumps 9% on merger with Kumarakruppa Frontier Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs 4,442-cr order win Nifty Energy is however up half a percent led by ONGC, BPCL, HPCL and Indian Oil Corporation.India VIX is up 0.07 … [Read more...] about Nifty Realty underperforms dragged by Godrej Properties; Tata Motors, YES Bank down 2-5%
To avoid delay in construction projects, the CPWD has introduced an online system through which contractors can report hindrance to top officers and the agency will take action against erring officials. The Central Public Works Department is the prime construction agency of the central government.According to the CPWD, the 'Online Delay Control System' will be adopted for all new construction projects.An official said a contractor will have to register himself through a form on the CPWD website for the newly-developed system where he can report any hindrance about a particular project.Close "Once the contractor reports hindrance, it will be visible to all officials concerned of the project. related news 'Gamosa' to 'Joi Aai Asom', the signs of pride that shaped Assam protests Three booked for stealing & leaking bank customers' data PM Narendra Modi arrives in Kanpur to chair first meeting of National Ganga Council "Thereafter, an executive engineer will seek comments … [Read more...] about CPWD brings in online system for contractors to report hindrance in projects
Rahul AgarwalIn its latest Monetary Policy Committee (MPC) meeting on December 5, the Reserve Bank of India kept key rates unchanged at 5.15 per cent (lowest in nine years, after five straight cuts with a cumulative 135 bps reduction this calendar year, to boost the country’s sagging economy.RBI retained its 'accommodative' policy stance, which suggests that this is a pause rather than an end to the loosening cycle, and it still has room for a rate cut. Core inflation, which excludes energy and food items, slid beyond a seven-year low of 3.47 per cent, which clearly indicates that there is hardly any demand for non-food items in the market.Close Usually, a rate cut helps revive economic growth as it allows retail customers to avail cheaper loans and works like a big booster for the large industrial sector, who will be able to avail bulk loans at lower interest rates. related news Reliance forms a base, recommend delta appreciating based … [Read more...] about Are the RBI’s repo rate cuts enough to reinforce GDP growth?
Indian benchmark indices are trading in the red with Nifty shedding 71 points and is trading at 11,751 while the Sensex is down 212 points and is trading at 39,240 level.Nifty Metal is down over 2 percent dragged by Tata Steel, JSPL and JSW Steel which are down over 4 percent each followed by Hindalco Industries, SAIL, Vedanta and Jindal Stainless.From the oil & gas space, the top losers are HPCL which shed over 3 percent followed by Reliance Industries, GAIL India, BPCL, Indian Oil Corporation and ONGC.Close The top losers from the media space are Eros International Media, Inox Leisure, PVR, Sun TV, Network18, Dish TV and TV18 Broadcast. related news ITDC jumps 9% on merger with Kumarakruppa Frontier Nifty Bank marches toward record high on likely resolution of 4 NPA cases in December BGR Energy share price locked in 20% upper circuit on Rs 4,442-cr order win Selective real estate stocks are trading in the … [Read more...] about D-Street Buzz: Nifty Metal underperforms dragged by Tata Steel; Tata Motors down 2%, ADAG stocks fall