Robots to assist you with banking at HDFC!

Q.  HDFC Bank has launched a humanoid called IRA for banking. What does IRA stand for?
- Published on 11 Jan 17

a. Intelligent Robotic Assistant
b. Invasive Robotic Assistant
c. Intelligent Robotic Advancement
d. None of the above

ANSWER: Intelligent Robotic Assistant
Robots to assist you with banking at HDFC!HDFC launched ‘IRA’ (or Intelligent Robotic Assistant), a humanoid, which will provide assistance services in bank branches.

The robot will be unveiled at one of its bank branches in the next 10-12 days. The bank will take a decision on deploying additional robots in branches.

In the initial phase, it will be deployed in branches. It will be a mobile robot which will be capable of offering services while being in motion.

Block-chain, artificial intelligence and Internet of Things will also be looked into in the future to offer products and services in this domain.

Kochi-based ASIMOV Robotics has helped the bank with the robot creation. This company is a single window solution and services provider that aims to meet all robotics/automation needs.

Through the Digital Innovation Summit, HDFC is also inviting ideas from startups and fintech companies in the areas of Internet of Things, virtual reality, block-chain, rural fin-tech, among others.

The top five ideas selected will be evaluated to give the respective companies an opportunity to partner with HDFC Bank.

City Union Bank had launched its humanoid Lakshmi which was an artificial intelligence powered robot.

This robot was able to speak English, gesture and engage in a life-like manner in conversations.

It was enabled to interact with customers on segments like account balance and interest rates on loans.

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