This TCS white paper explores how AI is reshaping banking, financial services, and insurance. With evolving regulations, competition, and abundant data, AI enables BFSI firms to improve customer experience, efficiency, personalization, and fraud detection. Use cases span payments, contact centers, onboarding, lending, claims, and compliance. Success depends on balancing human-machine interplay: machines handle repetitive, high-volume tasks; machine-assisted processes enhance human decisions; while humans manage complex, relationship-driven activities. Firms adopting enterprise-wide AI strategies, governance, and cultural readiness will unlock exponential value and gain competitive advantage.

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