Page 41 - BF Cover January 2021.cdr

ARTICLE

ARTIFICIAL

INTELLIGENCE (AI) -

"AN INEVITABLE

TRANSFORMATION

IN BANKING

SECTOR"

Introduction: the famous Dartmouth conference in summer of 1956.
However intelligent robots and artificial intelligence made
Artificial intelligence (AI), sometimes called machine
intelligence, is an area of computer science that emphasizes their first appearance in the ancient Greek myths of
the creation and development of intelligent machines that Antiquity. Aristotle's development of the syllogism and its
works and reacts like humans. So, when a machine mimics usage of deductive reasoning were presumed to be a key
a human mind by thinking for itself, it is known as Artificial moment in mankind's quest in understanding its own
intelligence. While the roots penetrate longer and deeper,
Intelligence. Some of these activities are - Learning, Speech
the history of artificial intelligence as we think of it today
recognition, Perception, Planning, Reasoning, Problem
solving and also the ability to operate and move objects spans less than a century.
around.
Artificial Intelligence is now used in various fields, providing
an accurate, efficient and performance oriented system.
John Mc Carthy is considered one of the founding fathers of
Agriculture and farming, security and surveillance,
artificial intelligence along with Alan Turing, Marvin Minsky,
Allen Newell and Herbert A Simon. It is Mc Carthy who had production and manufacturing, banking, healthcare and
coined the term Artificial Intelligence in 1955 and organized supply chain management are some of the areas where AI
has made significant impact.

About the author Disease mapping and prediction tools, conversational bots
for marketing and customer services, spam filters on emails,
Mohit Mishra social media monitoring tools for dangerous content of false
Faculty, RBMD (Senior Manager) news, Siri, Alexa and other personal assistants, Self-driving
Union Bank of India cars, drone and robots etc are some of the most popular
Staff Training Centre, Gurgaon, Haryana and appropriate examples of Artificial Intelligence.

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