Mr. Naresh Goolla

Impact of AI-driven BI and Data Analytics in BFSI and Banking.

Abstract:

AI-driven Business Intelligence (BI) and Data Analytics are transforming the Banking, Financial Services, Insurance (BFSI), and Healthcare industries by enhancing decision-making, risk management, and operational efficiency. In banking, AI optimizes fraud detection, credit risk assessment, and customer personalization, improving security and user experience. Financial services leverage AI for investment optimization, automated compliance, and real-time forecasting, while insurance companies use predictive analytics to enhance underwriting, claims processing, and fraud detection. Similarly, healthcare benefits from AI-driven BI through predictive diagnostics, personalized treatments, and efficient resource management, leading to better patient outcomes and cost savings. The integration of Natural Language Processing (NLP) and Machine Learning (ML) in BI tools enhances automated reporting, chatbot-driven customer support, and regulatory compliance. Real-time analytics empower organizations with proactive risk assessment, market trend predictions, and fraud mitigation, ensuring greater financial and healthcare security. AI-driven automation reduces operational costs by streamlining data management, reporting, and decision-making. However, ethical concerns and regulatory challenges require transparent AI governance, bias mitigation, and strict data privacy measures. Looking ahead, advancements in deep learning, explainable AI, and blockchain integration will further enhance security, trust, and efficiency in these industries.