HDFC Gets Its First Robot Banker

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In a step towards a more tech-savvy banking sector in India, HDFC bank has introduced its first humanoid banker. The robot is part of a project that was initiated to upgrade the technology being used in India’s banking sector. The role of the humanoid banker will be to assist the bank’s customers in conducting business with the bank. While HDFC is not the first to implement artificial intelligence to help with day-to-day business, it may certainly not be the last. Banks like ICICI have already been using AI to help with tasks like generation of customer IDs while City Union Bank had been using a humanoid, Lakshmi, to assist customer with simple questions ranging from product details to interest rates. City Union Bank plans to expand the role of the humanoid and interface it with conducting transactions too in the near future. While other banks are integrating AI into their workflow, HDFC has said that they will experiment with their humanoid banker at one branch first. Once they have enough data on how customers are reacting to it, they will take a decision on the expansion and extent of the adoption of these humanoids in other banking roles as well. The future for such technology does look a bit optimistic since banks have reported that, nowadays, nearly 70%, or more, of the transactions they handle are being conducted using online banking which bodes well for the prospects of the general public being conducive to the adoption of such technology.

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