THE INTEGRATION OF AI IN INDIAN BANKING: LEGAL CHALLENGES AND CONSIDERATIONS

AUTHOR – PROF RP YADAV, SHARDA UNIVERSITY, GREATER NOIDA, UTTAR PRADESH

BEST CITATION – PROF RP YADAV, THE INTEGRATION OF AI IN INDIAN BANKING: LEGAL CHALLENGES AND CONSIDERATIONS, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (2) OF 2024, PG. 1241-1246, APIS – 3920 – 0001 & ISSN – 2583-2344.

Abstract

The rapid advancement of artificial intelligence (AI) technologies has begun to revolutionize the banking sector in India, promising increased efficiency, improved customer experiences, and enhanced risk management. However, as AI systems become more prevalent in financial institutions, they also bring forth a host of legal challenges that need to be carefully addressed. This article explores the key legal issues surrounding the integration of AI in Indian banking, providing examples and analysis of the complex regulatory landscape.

Keywords–  artificial intelligence, algorithm, digitalization, data privacy, intellectual property rights, cross border data flow, transparency