“AI in Banking Programme” from IIT Roorkee and WileyNXT

Team Careers360 | July 7, 2020 | 04:26 PM IST

NEW DELHI: Indian Institute of Technology Roorkee, or IIT Roorkee, has announced the launch of Artificial Intelligence (AI) in Banking Programme in collaboration with learning solution provider WileyNXT

The programme is made for finance professionals, who want to build a career in AI and analytics in the banking domain and is India’s first in online, an official statement said on Monday.

Ajit K. Chaturvedi, Director, IIT Roorkee, said in the statement: “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.”

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

Influence of AI

About 32% of financial service providers in India are using AI technologies like predictive analytics and voice recognition, the statement said.

Leading banks of India like SBI, HDFC, ICICI, among others have adopted AI in their banking system.

The present global pandemic has seen a movement towards digital and virtual platforms. The banking sector is also shifting towards contactless banking. Technologies such as AI will be highly used to develop interactive banking-customer experience, the statement added.

Collaboration

The programme will provide in-depth understanding of AI's role in banking and financial domains by top business leaders.

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

It will offer joint certification from WileyNXT and IIT-Roorkee.