From integrating chatbots to handle customer queries to employing AI and ML to study suspicious patterns and detect fraud, the BFSI sector has evolved significantly. In 2022, AI adoption in the BFSI sector reached $680 million 2022 and is projected to surge sixfold to $3,935.5 million by 2028.

The growth is driven by customer-centric innovation, fraud detection, and operational efficiency. At the forefront, companies like Tata Consultancy Services (TCS) with cognitive automation and conversational AI, Infosys with Nia and Finnacle, and Wipro with end-to-end credit solutions are revolutionising the BFSI industry.

There are also many hidden gems contributing to this revolution, of which I will highlight two here.

The strategic rise of two niche tech innovators

Intellect Design Aren

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