Paper Details

Artificial Intelligence (AI) refers to the simulation of human intelligence processes by machines, enabling them to perform tasks such as learning, reasoning, and problem-solving. In recent years, AI has gained significant traction in the banking sector, transforming operations by improving customer service, automating routine tasks, enhancing decision-making, detecting fraud, and optimizing overall efficiency. This case study explores the integration of AI in ICICI Bank, focusing on key applications such as machine learning, natural language processing (NLP), and robotic process automation (RPA). The study aims to identify how ICICI Bank uses AI to redefine its banking operations, with notable examples such as iPal, the AI-powered virtual assistant that offers personalized financial consultations, and AI-driven fraud detection systems that analyse transaction patterns to reduce fraud risks. Additionally, the use of RPA in automating tasks like document processing has improved operational efficiency. Collaborations with external tech firms have further accelerated AI adoption, fostering an innovative culture within the bank. This research also seeks to examine the strategic deployment of AI in various areas of banking, offering insights into how ICICI Bank has leveraged AI to enhance customer satisfaction, reduce operational risks, and position itself as a leader in the digital banking landscape.

ICICI Bank, artificial intelligence, machine learning, customer experience, robotic process automation.