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As artificial intelligence (AI) gains wider adoption across the financial sector, balancing AI-led innovation with accountability for decisions taken by AI agents will be critical, said Pranay Bipin Jhaveri, Managing Director, India & South Asia at Euronet Worldwide.
Speaking to ANI on the sidelines of the Global Fintech Fest 2026, Jhaveri said AI has the potential to transform the way people live, work, play and pay, adding, regulated entities are already using the technology to improve fraud detection and management, streamline operations and enhance customer experience. However, Jhaveri stressed the need for regulators to strike a balance between encouraging AI-led innovation and ensuring accountability for decisions made by AI agents. Regulated entities are using AI for better fraud detection, managing fraud, for their operations, and for customer experiencebut one important thing that we need to think about is the regulator as well: how can we create a balance between innovation with AI and ensuring that there is accountability for decisions that are taken by an AI agent... he said. According to Jhaveri, there needs to be a balance between decisions made by AI agents and the innovation that AI can enable. The decision taken by an AI agent and the innovation that can be done with AI, I think there has to be a balance in that..." The four-day Global Fintech Fest 2026 concluded on Friday, September 11, with discussions focusing on technologies expected to shape the future of financial services, including trusted AI, secure payment ecosystems, cybersecurity and the global expansion of Indias digital finance capabilities. During the inaugural session, Prime Minister Narendra Modi called on the fintech sector to turn technological possibilities into real-world impact while stressing the need for cybersecurity, ethical data protection and consumer safeguards. He also emphasised expanding Indias digital payment infrastructure, including UPI, to global markets. Discussions at GFF 2026 also underscored the need for responsible, secure and scalable deployment of emerging technologies as India seeks to expand the global reach of its digital payment ecosystem. (ANI)
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