GenAI: Revolutionizing Indian Financial Services by 2030

Generative AI is set to boost productivity in Indian financial services by up to 46% by 2030, especially in banking. The EY report highlights GenAI's impact on customer engagement, efficiency, and risk assessment. Investment is rising, with deployments in customer service, operations, and cost-reducing innovations.

Generative AI is on course to dramatically enhance productivity in Indian financial services by as much as 46% by 2030, a new EY report reveals.

Entitled 'How much productivity can GenAI unlock in India? The AIdea of India: 2025', the report underscores GenAI's transformative role in shaping India's financial landscape by boosting customer engagement, operational efficiency, and risk management.

The study surveyed over 125 executives across various sectors and found that many firms have begun integrating GenAI into their operations, with significant investment supporting its adoption for customer service and process automation.

(With inputs from agencies.)