HDFC Becomes 1St Bank to set up Robots for Customer Service (IRA)

HDFC Becomes 1St Bank to set up Robots for Customer Service (IRA)

HDFC is the first Indian Bank who deploys a robot for the purpose of customer service in their branch. This humanoid named as Intelligent Robotic Assistant (IRA), has many abilities first it will be capable to welcome customers. After that the humanoid presents a list of banking services to the customer so that he/she can get able within that branch. This robot has deployed in Mumbai’s Kamala Mills branch of HDFC. It also guides the visitors about these banking operations such as Loans, Cash Deposit and Foreign Exchange. If the customer once selects the option ‘Take Me There’, then the robot takes customer to that exact counter, thus, it saves human assets and time.

HDFC Becomes 1St Bank to set up Robots for Customer Service

“We’re very eager to declare the deployment of our first Robot, IRA in the Kamala Mills branch of HDFC. IRA is so exclusive and will provide as a technology presenter in the field of artificial intelligence and robotics” said by Nitin Chugh, Country Head, Digital banking, HDFC Bank.

This humanoid was meant under the project in which more automation should be introduced inside banking sector. In the next stage, robots would have facial detection technology through which they sense the customers and also present the modified services.

HDFC Bank Fires 4,581 Jobs Due To ‘enhanced competence’

  1. Because of IRA, HDFC cuts 4,581 jobs due to ‘better effectiveness’ across India. As you see in news that last year on September 30, 2016 there were 95,002 employees but as of December 2017, HDFC would have only 90,421 employees.
  2. The parameters of jobs decrease month by month because of the declining of man-made power in a bank branch. As technology is increasing day by day, this is the outcome which is shown by the Kamala Mills branch of HDFC.
  1. HDFC Bank detached 4,581 jobs which are in validation between September and December. HDFC also gave an acknowledgment of improved efficiency. This humanoid makes the work more effective and easy and also gives 100% result. This is the first time that robot launched in a bank. It also gives good impact on the respectable bank.
  1. In a report, they said “The fall in headcount has chiefly been an outcome of the grouping of usual attrition and a hiring at a snip lower than ordinary made likely by achieving advanced productivity and good organization over the last few months.”
  1. Previously, HDFC had an experienced their slowest income growth in similar quarter, as their speed slowed down to 15%. HDFC straightly reported that there is no such tie between terminations of workforce and slow income growth in previous quarter. The attrition rate of every year mainly between banking sector is 16-22% and in HDFC, it is around 18%.

This is not clear yet that how many of the employers left the job due to ‘improved efficiency’ or due to voluntary reasons. It isn’t defined that the robots within the bank branches can guide to job failure or not.

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