Bajaj Finserv's AI Revolution: Transforming Loan Disbursement and Customer Interaction

Billionaire Sanjiv Bajaj discusses how Bajaj Finserv is effectively utilizing artificial intelligence for loan underwriting and customer interactions. The company is disbursing 10,000 loans monthly using AI. Bajaj emphasizes the importance of office work over remote work and announces the firm's amicable separation from Allianz in the insurance sector.

Billionaire Sanjiv Bajaj has challenged the perception of artificial intelligence as mere hype, asserting that his company, Bajaj Finserv, is leveraging AI for significant operational advancements. Speaking at the Lokmat Maharashtrian of the Year Awards, he revealed that the firm disburses 10,000 loans a month using AI, totaling up to Rs 150 crore.

Bajaj emphasized AI's tangible impact, despite concerns raised by industry veterans like Infosys Co-Founder N R Narayana Murthy. He stated that 80% of Bajaj Finserv's digital marketing content is AI-curated, and a pilot generative AI project successfully manages customer contacts in multiple languages.

Discussing the company's recent separation from Allianz in their insurance joint ventures, Bajaj revealed the decision was mutual, aiming to exploit individual market opportunities. He also called for improved business ease in states and highlighted that pesky calls mostly originate from third-party agents, not the company.

(With inputs from agencies.)