|
|
by IANS |
Bengaluru, Feb 26 (IANS) Over eight in 10 (84 per cent) Indian consumers expect artificial intelligence (AI) to speed up financial transactions, according to a report on Wednesday.
The key factors that would build Indian consumers’ trust in AI agents are transparency, user control and built-in protections, said the report by Salesforce, the global leader in CRM.
The survey-report uncovered how AI agents offer new opportunities for competitive differentiation in the financial services industry.
About 74 per cent of Indians, including 74 per cent of Gen Z and 79 per cent of millennials, expect AI to play a bigger role in financial services than in other industries.
Indians are most interested in use cases that lower prices, prevent fraud and surface personalised offers.
Building trust is essential as agentic AI is rolled out, said the report.
About 87 per cent of Indian consumers at least somewhat trust the use of AI agents in financial services, but only 29 per cent are fully on board.
India’s financial services landscape is at a pivotal moment, with AI-driven innovation reshaping how consumers interact with their financial institutions.
“The rise of agentic AI solutions, like Agentforce, has the potential to provide on-demand, personalized financial recommendations, eliminating traditional barriers like time constraints and accessibility,” said Arun Parameswaran, EVP and MD, Salesforce (South Asia).
However, to unlock its full potential, financial institutions must prioritize trust, transparency, and stringent regulatory compliance into their AI strategy from the outset - not as an afterthought, he mentioned.
Differentiated service and experience can outweigh rates and fees. About 67 per cent of Indians would stay with a provider that offers excellent service, even if fees increase. This is especially true for high earners (70 per cent), according to the report.
Latest News