Read the given passage carefully and answer the questions given below. The rise of sectors like Artificial Intelligence (AI) has opened up new avenues for the banking industry and the confluence of AI and digital banking has led to the banks improving their offerings and services, notably in the fi

Read the given passage carefully and answer the questions given below.

The rise of sectors like Artificial Intelligence (AI) has opened up new avenues for the banking industry and the confluence of AI and digital banking has led to the banks improving their offerings and services, notably in the field of mobile banking.

The rise of mobile banking in the last few years has coincided with the rise of Artificial Intelligence (AI) becoming more capable and pervasive in a variety of fields and applications. Although unrelated, the parallel growth in both the sectors has, of course, led to a confluence of the two, as more and more banking and finance institutions explore AI applications to improve their offerings and services.

While enterprise-solutions are many – from scanning big data and more efficient data analytics to improved back-end workflows through automation – quite a few organisations have also explored consumer-facing applications of AI. One of the most widely adopted applications has been the consumer chat-assistant.

Simply put, a chat assistant (colloquially called a chatbot) is an AI or computer programme that conducts conversations meant to replicate human conversation via auditory or textual means. Chat assistants have come a long way from their humble origins, with advancements in machine learning and natural language processing allowing them to “learn” from their interactions and hold conversations in a human-like manner, thereby becoming more “human”.

Mobile banking has grown by leaps and bounds around the world, as easy access to mobile devices has helped reshape interactions between banking institutions and their consumers. Integrating virtual chat assistants into their mobile banking offerings is the next step towards making these mobile-first interactions more seamless and natural.

After reading the passage, what can be definitely said about A.I.?

1). It is proving to be very useful for efficient work in enterprises
2). Organisations are still skeptic about its widespread use
3). The banking sector may not have much use for A.I. except chatbots
4). A.I.could bring about the next communication revolution

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