Tag Archives: Productivity

The finance ministry has asked state-controlled banks to consider using emerging technologies such as account aggregators and generative artificial intelligence (AI) to improve their operational efficiency and customer experience.

Leverage technology

In a meeting chaired by Union Finance Minister Nirmala Sitharaman to review the performance of public sector banks (PSBs), banks were told to use technology to provide enhanced services and to cut costs.

“Process automation happens across every digital back office, automation of branch facing roles etc,” a senior finance ministry official said.

Collaboration among lenders

They also said that PSBs are spending money separately for technology upgrades in artificial intelligence and machine learning, which is adding to costs.

Thereby…

When talking about technology, one of the hallmarks of a good design is how its workings are transparent to the user. Often a user does not need to know how something works.

What is important to him is that something just does work as expected. For example, a person is likely to be uninterested in the mechanical and electronic parts that make the internals of his wristwatch. What he would likely be concerned about is whether his watch can give him the time precisely and consistently.

The same goes for websites. People only see a ready product and most take for granted all the programming code that goes into building a website as well as the infrastructures needed in supporting it. Among these supporting elements is a web hosting service.

A web hosting service plays a major part in…