Part 4/12:
Market Size & Significance: Financial services dominate India’s economy, with the highest market capitalization, employment, and revenue generation compared to other sectors.
Bank and Institution Readiness: Banks and BFSI (Banking, Financial Services, and Insurance) companies are increasingly receptive to AI. Unlike past platform shifts (mobile, internet, cloud) that faced skepticism, AI is now welcomed into boardrooms. Presentations on AI initiatives are common, and institutions are investing actively.
Regulatory Environment: Indian regulators are pushing for real-time, digitized processes, emphasizing customer experience, compliance, and auditability. This regulatory landscape creates added pressure and incentives for digitization and modernization.