New Delhi, Aug. 11 -- Reserve Bank of India (RBI) Governor Sanjay Malhotra said Indian lenders need to accelerate the adoption of artificial intelligence (AI) by investing in technology and infrastructure while upskilling their workforce.

Speaking at an industry event in Mumbai on Tuesday, Malhotra emphasised that banks that succeed in the AI era will not necessarily be those that adopt the technology fastest, but those that understand the systems they deploy and effectively manage the associated risks.

He noted, "We have much at stake. The banks that will win in the AI era will not necessarily be the ones that adopt AI faster or the most. They will be the ones who adopt it with full understanding of what they are deploying," Bloomberg ...