DEHRADUN: Indian Institute of Technology-Roorkee in collaboration with WileyNXT, an innovative learning solution, has announced the launch of artificial intelligence in banking programme.

“Artificial Intelligence has the potential to transform banking and improve compliance. The current COVID-19 crisis coupled with growing security and privacy concerns has reinforced the need for leveraging new-age skills to tackle the emerging challenges. We are delighted to collaborate with WileyNXT to launch this programme. The programme will open new avenues for the participants in the banking sector,” said Prof. Ajit K. Chaturvedi, Director, IIT-Roorkee

AI in banking is India’s first-of-its-kind online programme made for existing as well as recently-graduated technology and finance professionals, who aspire to build a career in AI and analytics in the banking domain.

The 4-month programme will focus on training IT professionals and graduates to implement Artificial Intelligence in the banking sector.

The programme is aimed at covering industry immersion classes by top business leaders to give an in-depth understanding of the role of AI in banking and financial domains. It will offer a joint certification from WileyNXT and IIT-Roorkee.

According to a joint research conducted by the National Business Research Institute and Narrative Science, about 32% of financial service providers in India are already using AI technologies such as predictive analytics, voice recognition etc. Some of the leading banks such as SBI, HDFC and ICICI have adopted artificial intelligence in their system.

Vikas Gupta, Managing Director, Wiley India, while commenting on the collaboration said, “WileyNXT is committed to bridging an industry-wide skill gap. There is a tremendous emphasis on automation to accelerate the development and deployment of products in the banking and finance sector.

This has fuelled the demand for a digitally-enabled workforce. Our innovative learning solutions are meant to cater to modern workplace demands. WileyNXT provides a platform for individuals to enhance the academic and professional impact of their career.”

The present global pandemic has seen a movement towards digital and virtual platforms and even the banking sector is shifting towards contactless banking. It will encompass the processes such as digital onboarding of customers enabled by video KYC (know-your-customer), contactless authentication and payments, virtual customer servicing, and immersive banking experience.

This is an opportunity for professionals and graduates who want to equip themselves with trending skills and have a competitive edge over their peers, said officials from the IIT.