IIT Roorkee Collaborates with WileyNXT to Curate AI in Banking Programme

New Delhi, July 2020: Indian Institute of Technology (IIT) Roorkee, one of the oldest technical institutions in Asia, in collaboration with WileyNXT, India’s innovative learning solution, has announced the launch of AI in Banking Programme.

AI in Banking is India’s first-of-its-kind online programme made for existing as well as recently graduated technology and finance professionals, who aspire to build a career in AI and analytics in the banking domain. The 4-month programme will focus on training IT professionals and graduates to implement Artificial Intelligence in the banking sector.

“Artificial Intelligence has the potential to transform banking and improve compliance. The

current COVID-19 crisis coupled with growing security and privacy concerns has reinforced the need for leveraging new-age skills to tackle the emerging challenges. We are delighted to collaborate with WileyNXT to launch this program. The program will open new avenues for the participants in the banking sector,” said Prof. Ajit K. Chaturvedi, Director, IIT Roorkee

The programme will cover industry immersion classes by top business leaders to give an in-depth understanding of the role of AI in Banking and financial domains. It will offer a joint

certification from WileyNXT and IIT-Roorkee.

Vikas Gupta, Managing Director, Wiley India, while commenting on the collaboration said,

“WileyNXT is committed to bridging an industry-wide skill gap. There is a tremendous

emphasis on automation to accelerate the development and deployment of products in the

Banking and Finance sector. This has fueled the demand for a digitally-enabled workforce.

Our innovative learning solutions are meant to cater to modern workplace demands.

WileyNXT provides a platform for individuals to enhance the academic and professional

impact of their career.”

It has been observed that about 32% of financial service providers in India are already using

AI technologies like predictive analytics, voice recognition et al, according to joint research

conducted by the National Business Research Institute and Narrative Science. Some of the

leading banks like SBI, HDFC, ICICI, among others have adopted Artificial Intelligence in their system.

The present global pandemic has seen a movement towards digital and virtual platforms and

even the banking sector is shifting towards contactless banking. It will encompass the

processes such as digital on-boarding of customers enabled by video KYC (know-your-customer), contactless authentication and payments, virtual customer servicing, and

immersive banking experience. Technologies such as Artificial Intelligence (AI) will be highly

used to develop interactive banking-customer experience. This is an opportunity for

professionals and graduates who want to equip themselves with trending skills and have a

competitive edge over their peers.