Siddharth Mehta’s views on AI and Fintech: A digital world

We can see tremendous growth in fintech in India. According to the reports of the Department for Promotion of Industry and Internal Trade (DPIIT), there are approximately more than 2000 fintech start-ups in India currently.

What Siddharth Mehta IL&FS former director and CIO Bay Capital thinks about bringing AI with Fintech? Please scroll down to know more.

According to media reports, Vijay Shekhar Sharma, the founder and CEO of Paytm, seems to be expressing his keen interest in bringing AI to his company to make it more efficient than before. According to him, there is a possibility that cutting-edge technology and the algorithms of AI will bring about a revolution in fintech.

Siddharth Mehta, IL&FS's former director and CIO at Bay Capital, also believes that AI with fintech will bring the ultimate experience to the customer and will make digital reach simpler and more effective, which would be more sound and user-friendly. He perhaps added that it will make India’s economy more digital.

When referring to India’s digital economy, he added that AI technology will boost fintech in many ways. He then claims that AI will improve the customer service-related issue quickly and smooth the process for the user. Siddharth Mehta, IL&FS's former director and CIO at Bay Capital, believes that AI will be helpful in reaching the maximum audience with the embedded new technology, making it user-friendly with improved technology.

In conclusion, we can say that fraud detection and minimization of risk, customer safety, and data privacy concerns will be addressed in an efficient manner with the help of AI in fintech. Siddharth Mehta, IL&FS's former director and CIO at Bay Capital, believes India’s fully digital economy can be achieved with the help of AI in fintech. There is also a possibility that India will be leading the world in the fastest-growing digital economy in the next 5 years.  

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