Journal of Management and Science, Special Issue 4, Feb-2018 ISSN 2250-1819 / e-ISSN 2249-1260 JOURNAL OF MANAGEMENT AND SCIENCE A International Level Quarterly Journal on Journal of Management and Science Published by Non Olympic Times Journal of Management and Science, Special Issue 4, Feb-2018 ISSN 2250-1819 / e-ISSN 2249-1260 Special Issue 4 (Feb-2018) JOURNAL OF MANAGEMENT AND SCIENCE Sl.No. Contents Page No. Artificial Intelligence in Banking 01 Dr.K.Umadevi, Dr.M.Prakash 001-002 Artificial Intelligence Could be the Future of Banking 02 Dr. P.Shanthini 003-005 Banking on the Cloud 03 J.Vinodhini ,Mrs.Kalaimani, Sruthi Gopalakrishnan . 006-008 Banking on the Cloud 04 M.Manidayanand . 009-015 IS Cloud Banking IS Banking in Clouds 05 Dr. P. Suganya, Mr. I. Abishake . 016-018 A Study on Corporate Governance Practices in Commercial Banks 06 Dr. Mutharasi. M, 019-027 Digital Banking in India: Challenges and Opportunities 07 Dr.P.B.Banudevi , P.Dhanya . 028-031 Digital Payments in India – A Disruption 08 Dr.R.Rupa, 032-035 Disruption of Banking Sector 09 S.Dhivya 036-038 Emerging Digital Transformation and Artificial Intelligence in Banking 10 Sector - Current Scenario Ms.P.Janani 039-041 Expanded ATM Capabilities 11 G.Baby Cellin, S.Divya Bharathi, 042-045 Grievance Redressal Mechanism-Opinion Study 12 Dr.S.Valli Devasena, 046-050 A Study of Customer Satisfaction towards Housing Loans in Select Private 13 Sector Banks in Coimbatore District Dr. B.Sivakumar, N.S.Lissy, 051-053 Impression if Information Technology in Banking Sector 14 V.Priyanka 054-058 Readers may send popular articles of topical interest in English to the editor email address ([email protected]) Journal of Management and Science, Special Issue 4, Feb-2018 ISSN 2250-1819 / e-ISSN 2249-1260 Sl.No. Contents Page No. A Study on Customers Awareness and Stratification towards Internet Banking 15 in Semi – Urban Areas of Coimbatore City. Mrs.R.Sudha, Mrs. X.Catherine Arputha Divya, Mrs.M.Kovarthini 059-064 Mobile Bank in the Transformation in Banking System 16 Mrs.R.Saranya., V.S.Prabhu., 065-070 New Digital Gateways for Payments 17 Dr.V.Abirami, Yashoda R Ganesh 071-075 A Study on Non-Performing Assets of Banking Sectors in India 18 Dr.D.Vijayalakshmi , Srihari Ramesh, Shenbagadevi.G 076-080 Payments Innovations 19 Prof. A.V. Ravi 081-084 Empowerment of Women Employees in Nationalized Bank in Chennai 20 M.Vishvabharathi. 085-087 Readers may send popular articles of topical interest in English to the editor email address ([email protected]) Journal of Management and Science | ISSN: 2249-1260 | e-ISSN: 2250-1819 | Special Issue No.4 | Feb’2018 Artificial Intelligence in Banking Dr.K.Umadevi Dr.M.Prakash Associate Professor & Course Coordinator–PG, Associate Professor, School of Commerce, CMS College of Science and School of Commerce, CMS College of Science and Commerce, Commerce Coimbatore. Coimbatore. INTRODUCTION AI is the branch of Computer Science concerned with making computers behave like humans. The term was Traditional banking has three distinct components coined in 1956 by John Mc Carthy at the Massachusetts namely. Capital, Deposits and Loans. The pillars of Institute of Technology. traditional banking (Deposits and Loans) rest upon the foundation of capital. All banks must have access to Need for AI in Banking capital, which is leveraged with deposits and then Reduce costs prudently converted in to loans that generate jobs and Increase workforce productivity economic growth. Now, Banking is a rapidly changing Increase efficiency industry and the biggest paradigm shift that has occurred Wealth management for the masses is the move to digital only banks. Customer support / help desk – An end to the waiting in line. STATEMENT OF THE PROBLEM Identify opportunities in data that would be otherwise missed The banks need to analyse services and Personalized communication at scale. answer the following questions. Improve the ability to compete with perks. Do they really “Know “ their customers Increasing standing as an innovative company Is the “Product Channel” fit for their customers? In recent years, if AI has impacted one industry more than Are they providing multi-channel experience? any other, it is the Banking industry. Are they making a genuine effort for „Relationship Building‟? Characteristics of AI Do their customers have enough „Confidence‟ and Reasoning : The ability to solve problems through „Trust‟ in them? logical deduction. OBJECTIVES OF THE STUDY Knowledge : The ability to represent knowledge about the world. 1. To understand the need for Artificial Intelligence in Banking Planning : The ability to set and achieve goals. 2. To identify the Artificial Intelligence applications in Banking. Communication : The ability to understand written and spoken language. METHODOLOGY Perception : The ability to deduct things about the world This study is descriptive in nature and secondary data has from visual images, sounds and other sensory inputs. been collected from published sources and internet. AI Specification Limitation of the study Game playing – Programming computers to play games Any limitation pertaining to the descriptive study is bound against human opponents. to be applicable to this study as well. Expert System – Programming computers to make Meaning of Artificial Intelligence [AI] decision in real life situations e.g. help doctors diagnose The theory and development of computer systems able to diseases based on symptoms. perform tasks normally requiring human intelligence such as visual perception, speech recognition, Decision Making Natural language –Programming computers to and Translation between languages. understand natural human languages. Special Issue on Disruptions in Banking Sector in the Current Scenario 1 Journal of Management and Science | ISSN: 2249-1260 | e-ISSN: 2250-1819 | Special Issue No.4 | Feb’2018 Natural Networking- System that simulate intelligence Customer recommendations by attempting to reproduce the types of physical It is based on using the data from the past about users and connections that occur in animal brains. / or various offerings from a bank like credit card plans, investment strategies, fund etc., to make the most Robotics – Programming computers to see and hear and appropriate recommendation to the user based on their reach to other sensory stimuli. performance and the user‟s history. AI applications in Banking CONCLUSION AI is the blend of three advanced technologies- machine learning, natural language processing and cognitive One of the key values of the banking industry has been its computing. The concept of AI is to simulate the “Customer Focused” mindset, but in the new era, the intelligence of humans into artificial machines with the trend is moving to being “Customer Centric”. This is help of sophisticated machine learning and natural because advances on technology & communication, language processing algorithms. combined with an explosive growth in data & information, have given rise to an even more empowered AML Pattern Detection & aware global customer. With this change in customer Anti-money laundering refers to a set of procedures, laws dynamics the banking industry has an opportunity to or regulations designed to stop the practice of generating develop an improved customer engagement strategy. income through illegal actions. Union budget 2018 brought fourth many announcements. Chat bots. But an unexpected, albeit a significant one, was regarding AI based automated chat systems simulate human chats the establishment of a national programme to direct without any human interventions. Chat bolts are efforts in the area of AI. Now, this is a Welcome initiative extensively used in the banking industry to revolutionize the customer relationship management(CRM) at personal REFERENCES level. [1]. Management Information System-Aman Jindal Algorithmic trading [2]. www.hhrjournal.org/ Plenty of hedge funds across the globe are using high end [3]. https://gomedici.com/the-role-of-ai-technologies-in- system to deploy AI model which learn by taking input humanizing-digital-banking/ from several sources of variation in financial markets and [4]. Finanicalbrand.com sentiments about the entity to make investment decisions [5]. businesstoday.in on the fly. [6]. economictimes.indiatimes.com [7]. https://thefinancialbrand.com/69154/ai-banking-financial- artificial-intelligence-trends-uses/banking-to-look-out-for- Fraud detection in-next- It is the one of the key areas in banking sector where AI systems have excelled the most. 2 Special Issue on Disruptions in Banking Sector in the Current Scenario Journal of Management and Science | ISSN: 2249-1260 | e-ISSN: 2250-1819 | Special Issue No.4 | Feb’2018 Artificial Intelligence Could be the Future of Banking Dr. P.Shanthini, Assistant Professor, Department of B.Com Banking and Insurance Dr. N. G. P. Arts and Science College (Autonomous) Abstract : Artificial Intelligence (AI), the ability of a improvements in the field of artificial intelligence. digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings. AI is Artificial Intelligence has several applications in the frequently applied to the project of developing systems Banking Industry: endowed with the intellectual processes characteristic of The five key applications of artificial intelligence in the humans, such as the ability to reason, discover meaning, Banking industry that will revolutionize the industry in generalize, or learn from past experience.