Economics · Banking Technology
Considering the integration of AI and Machine Learning in banking for analyzing consumer requirements, read the following statements: Statement I: AI allows banks to move from 'Reactive Banking' to 'Predictive Banking' by offering loans based on data-driven needs. Statement II: The use of AI in requirement analysis completely eliminates the need for human oversight or ethical considerations. Statement III: 'Hyper-personalization' can sometimes conflict with consumer requirements for 'Privacy' and 'Data Security'. Statement IV: AI-driven models are only useful for high-income urban consumers and have no application in rural sectors. Statement V: Implementation of AI helps in reducing the 'Turnaround Time' (TAT) for loan approvals. Which of the following combinations of statements is correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Only I, III and V✓
- 2Only II and IV
- 3Only I and II
- 4All statements are correct
Correct answer
Only I, III and V
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