State Bank of India (SBI), the country’s largest public sector bank, is embracing agentic AI to enhance both employee productivity and customer service. Unlike traditional bots, agentic AI can independently process requests, recommend solutions, and even complete transactions—functioning like a digital relationship manager.
Employee-First Rollout
Speaking at a Microsoft event, Nitin Chugh, Deputy Managing Director at SBI, confirmed the bank’s plan to first deploy agentic AI for internal use before rolling it out to customers. The move is part of a broader tech strategy focused on generative AI to improve decision-making and service quality.
AI Chatbots Already in Action
SBI has already launched two AI-powered tools:
- Deceased Account Settlement Chatbot: Assists staff in managing queries related to deceased customers with scenario-based resolutions aligned to internal SOPs.
- askSBI Chatbot: A GenAI tool that helps employees solve complex business problems without relying on manual documentation, improving internal efficiency.
Cloud-First, Secure-by-Design
To support its AI initiatives, SBI is shifting to a hybrid cloud model that combines its private Meghdoot cloud with Microsoft Azure. This setup ensures both scalability and robust data protection.
High ROI from AI in BFSI Sector
According to an IDC survey commissioned by Microsoft, the BFSI sector sees the highest returns from generative AI, with a nearly 5x ROI for every dollar spent—significantly higher than the 3.4x industry average.
SBI’s AI-powered future may soon redefine how millions of Indians experience banking—faster, smarter, and more intuitive than ever before.
