Navigating the AI Landscape in Financial Institutions w/ Shekhar Vemuri

In this episode of the Digital Banking Podcast, Josh DeTar spoke with Shekhar Vemuri, SVP, CTO, VP Analytics at EXL Analytics. Vemuri shared insights on the evolution of AI in banking and its practical applications.

Vemuri explained how AI has progressed from basic automation to more complex tasks like understanding unstructured data. He highlighted the shift from optical character recognition (OCR) to advanced machine learning models that can comprehend and analyze documents.

The conversation delved into the challenges and opportunities of implementing AI in banking. Vemuri stressed the importance of balancing innovation with risk management, especially in highly regulated industries. He also discussed the role of human oversight in AI-driven processes, emphasizing that while AI enhances efficiency, it doesn't replace human decision-making entirely. The episode provided a comprehensive look at how AI is reshaping banking operations and customer service.