Before AI makes decisions, BFSI must make its documents decision ready
By Ajay Soni, Business Head – Technology Services, Writer Information
Artificial intelligence has moved from experimentation to executive priority across banking, financial services and insurance. Boards are approving investments, institutions are building internal capabilities, and business teams are identifying use cases across credit, underwriting, claims, compliance and customer service. Yet the quality of an AI outcome will ultimately depend less on the sophistication of the model than on the integrity of the information it receives.
For BFSI institutions, much of that information still resides in documents. Loan applications, KYC records, bank statements, income proofs, insurance proposals, claims files, legal agreements and customer correspondence collectively form the evidence behind high-consequence decisions. A large share remains physical, scanned, photographed or stored across disconnected repositories. The information exists, but it is not consistently structured, contextualized or traceable. That distinction is becoming a material enterprise risk.
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