Accenture develops AR/AI based apps to strengthen the microlending sector

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IT major Accenture, today revealed that it has developed augmented reality (AR) and artificial intelligence (AI)-based applications to strengthen the microlending sector.

The App comes incorporated with a multi-lingual chatbot which will help potential borrowers ‘read’ contents of a brochure before availing a loan or any financial service being offered by the firm, the company said in a statement.

“The borrower can hold the smartphone over the brochure, after which a virtual assistant will pop-up and prompt a conversation in the local language to explain the material”, an official said.

Inclusively, for loan Sanctioning department and it’s officials, the company has developed an AI-powered tool that features emotional analytics, wherein advisors will be able to get real-time insights on the cognitive and emotional status of their clients based on video and audio inputs.

The tool will help the advisor understand the keywords that help attract attention and also result in disengagement, the statement said.

Furthermore, it can also detect if an applicant applying for a loan is being pressurized to do so, or is for a genuine purpose, the statement claimed.

Accenture Labs India’s managing director Sanjay Podder said, ” technology can help bridge the vast cultural and educational divide in places like India, having a real impact on the way people work and live.”

The IT firm collaborated with Grameen Foundation India for deployment of developed technologies in the field, it said. Also, in addition, it will be rolled out in 300 villages of Maharashtra and Odisha.

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Vaibhav Srivastav, From ITvoir News Desk

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