Blind adoption of new fintechs without proper understanding could have adverse affect: RBI ED

New Delhi: Ajay K. Choudhary, executive director (ED) of the Reserve Bank of India, observed that while new technologies like artificial intelligence and block chain are very beneficial for the financial sector, a blind adoption of technological innovation without understanding its biases and limitations could be counterproductive.---Advertisement--- Also Read :-Despite oil prices at 7-month low, […]

New Delhi: Ajay K. Choudhary, executive director (ED) of the Reserve Bank of India, observed that while new technologies like artificial intelligence and block chain are very beneficial for the financial sector, a blind adoption of technological innovation without understanding its biases and limitations could be counterproductive.

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“The new tech such as artificial intelligence, block chain, quantum computing, big data, analytics, 5G, all of them bring a lot of benefit. However, they also bring some significant potential for disruption in the future of finance,” he said. Read More :- Latest Business News Click Here - Download The News 24 App

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