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Spire's six most recent Spirethoughts.

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EU offers more market access to Vietnam
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The World Bank’s USD212 million Green loan for Vietnam
Thumbnail_A global digital currency in the works_
A global digital currency in the works

India’s first banking robot

Taking a cue from a Japanese bank – Bank of Tokyo-Mitsubishi UFJ – Indian banks plan to use robots with artificial intelligence. Kumbakonam-based City Union Bank launched India’s first robot on-site assistant, known as Lakshmi.

The robot imitates human action, thereby reducing the response time to customers by up to 60% and improving accuracy tremendously. The bank became the first to deploy robots that can perform repetitive, high volume and time-consuming tasks, raising productivity and efficiency.

Will artificial intelligence enable banks to use robots on a mass scale?


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