Question:
Directions (1-10): Read the following passage carefully and answer the questions given below it.
Artificial Intelligence (AI) and machine learning are rapidly transforming the financial sector. While traditional banking heavily relied on human interaction and manual processing, digitalization has ushered in an era where algorithms predict consumer behavior, assess credit risks, and even execute trades in milliseconds. The primary drivers for this shift are the vast amounts of data generated daily and the need for personalized customer experiences. Banks are deploying chatbots for customer service, reducing operational costs and providing 24/7 assistance. However, this rapid integration is not without challenges. Data privacy concerns and the potential for algorithmic bias pose significant risks. If an AI model is trained on historical data that reflects past prejudices, it may inadvertently deny loans to qualified candidates from marginalized communities. Furthermore, the opacity of deep learning models, often referred to as ‘black boxes’, makes it difficult for regulators to audit decision-making processes. As the financial landscape evolves, regulatory frameworks must adapt to ensure that innovation does not compromise stability or fairness.
Q4. How do chatbots benefit banks, as per the text?
(a) By printing more money
(b) By reducing operational costs and providing 24/7 assistance
(c) By replacing all human employees
(d) By eliminating the need for regulators
(e) By increasing physical branches
Directions (1-10): Read the following passage carefully and answer the questions given below it.
Artificial Intelligence (AI) and machine learning are rapidly transforming the financial sector. While traditional banking heavily relied on human interaction and manual processing, digitalization has ushered in an era where algorithms predict consumer behavior, assess credit risks, and even execute trades in milliseconds. The primary drivers for this shift are the vast amounts of data generated daily and the need for personalized customer experiences. Banks are deploying chatbots for customer service, reducing operational costs and providing 24/7 assistance. However, this rapid integration is not without challenges. Data privacy concerns and the potential for algorithmic bias pose significant risks. If an AI model is trained on historical data that reflects past prejudices, it may inadvertently deny loans to qualified candidates from marginalized communities. Furthermore, the opacity of deep learning models, often referred to as ‘black boxes’, makes it difficult for regulators to audit decision-making processes. As the financial landscape evolves, regulatory frameworks must adapt to ensure that innovation does not compromise stability or fairness.
Q4. पाठ के अनुसार, चैटबॉट बैंकों को कैसे लाभान्वित करते हैं?
(a) अधिक पैसे छापने के द्वारा
(b) परिचालन लागत को कम करके और 24/7 सहायता प्रदान करके
(c) सभी मानव कर्मचारियों को प्रतिस्थापित करके
(d) नियामकों की आवश्यकता को समाप्त करके
(e) भौतिक शाखाओं को बढ़ाकर
Correct Answer: (b)
Explanation:
Detailed Explanation: The passage explicitly states that banks deploy chatbots to reduce operational costs and provide 24/7 assistance.
विस्तृत व्याख्या: गद्यांश स्पष्ट रूप से बताता है कि बैंक परिचालन लागत को कम करने और 24/7 सहायता प्रदान करने के लिए चैटबॉट तैनात करते हैं।