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Abstract
Technological Innovation can be the only panacea for a business firm to sustain in the industry that facilitates in curbing the competition. The paradigm shift in banking and financial serves has strategically focuses on transformational changes in 2018. Banks are adopting computer programs to enhance capabilities of business by the implementation of sophisticated artificial intelligence to curb fraudulent practices, improve customer response, offer standard customer service, enable virtual assistant to offer real time solutions, digital documentation etc. Transformative technology has enabled banks and financial institutions to automate their operations based on advanced data-driven. Artificial Intelligence, Business intelligence and digitalization, will focus on cognitive application in functional areas of business along with investment and compliance sectors of financial services industry.