Mumbai, April 13 -- Swaminathan J, Deputy Governor, Reserve Bank of India, has delivered a speech titled AI in Finance: What can change, what must never change. He noted that AI-enabled systems can make customer interaction simpler, more intuitive, and more responsive. Multilingual chatbots and voice-based interfaces can help customers who are not comfortable with formal paperwork or English-language interfaces. Routine queries can be answered faster. Complaints can be tracked better. Information can be delivered more clearly.

AI can also help improve credit delivery. Traditional finance has relied on collateral, financial statements, and standardised credit templates. AI can supplement traditional methods by drawing insights from a wide...