Synopsis
A recent report shows that over 84% of Indian consumers expect artificial intelligence to enhance the speed of financial transactions, with trust factors being critical for adoption. The financial landscape is evolving with AI-driven innovations.Key Takeaways
- 84% of Indians expect AI to accelerate financial transactions.
- Trust in AI hinges on transparency and user control.
- 74% of Gen Z and 79% of millennials see AI's growing role in finance.
- 67% of consumers prioritize service over fees in their provider choices.
- AI solutions like Agentforce can offer personalized recommendations.
Bengaluru, Feb 26 (NationPress) A significant majority of Indian consumers, over 80 percent (84 percent), anticipate that artificial intelligence (AI) will expedite financial transactions, as revealed by a report released on Wednesday.
The report, from Salesforce, the world's leading CRM provider, indicates that the primary elements fostering Indian consumers' trust in AI agents are transparency, user control, and built-in protections.
This survey highlights the new avenues that AI agents introduce for competitive advantage in the financial services sector.
Approximately 74 percent of Indians, including 74 percent of Gen Z and 79 percent of millennials, foresee a greater influence of AI in financial services compared to other sectors.
Consumers in India express keen interest in applications that offer lower prices, help in fraud prevention, and deliver personalized offers.
The report emphasizes that establishing trust is crucial as agentic AI is implemented.
While 87 percent of Indian consumers express at least some trust in the use of AI agents within financial services, only 29 percent are completely supportive.
India's financial services landscape is currently at a critical juncture, with AI-driven advancements transforming consumer interactions with their financial institutions.
According to Arun Parameswaran, EVP and MD of Salesforce (South Asia), “The emergence of agentic AI solutions, such as Agentforce, could provide on-demand, tailored financial advice, overcoming traditional challenges like time limitations and accessibility.”
However, to realize its full potential, financial institutions must embed trust, transparency, and strict regulatory compliance into their AI strategies from the beginning, rather than treating them as an afterthought.
According to the report, exceptional service and experience can outweigh costs—about 67 percent of Indians would remain with a provider offering outstanding service, even if fees rise. This sentiment is particularly prevalent among high earners, with 70 percent expressing the same view.
