AI has helped double average tenure of bank employees, says survey

MUMBAI: With the introduction of artificial intelligence in banks, the average tenure of the employee has doubled from the industry average of 1.5 years to 3.02 years, says a survey.

According to a survey by HR-tech startup, inFeedo, that studied more than 80,000 personnel from banking majors, artificial intelligence (AI) has helped double the average employee tenure.

The report titled ‘The BFSI Engagement Index 2020′ noted that, across organisations, the human resource (HR) team’s query response rate had doubled from 33 per cent through annual surveys to 60 per cent when engaging with AI.

The response rate touched 85 per cent for top performing HR teams in financial institutions, while even the lowest performing HR teams experienced a response rate of 58 per cent when AI came into the picture, it said.