New Delhi, Mar 21 (IANS): Accenture Labs in collaboration with the non-profit Grameen Foundation has developed two artificial intelligence (AI) and augmented reality (AR)-based applications that can boost rural women's access to financial services.
The apps Emotional Analytics for Social Enterprises (EASE) and Grameen Guru will be rolled out by Grameen Foundation India across 300 villages in the states of Maharashtra and Odisha, Accenture Labs said in a statement on Wednesday.
Leveraging AI and AR-based technologies, the applications will help users better understand financial products and services, enabling them to make informed choices that positively impact their financial and social well-being.
"This is a tremendous example of how technology can help bridge the vast cultural and educational divide in places like India, having a real impact on the way people work and live," said Sanjay Podder, Managing Director, Accenture Labs India.
EASE is an AI-based web and mobile app that helps microfinance advisors gain real-time insights into the emotional and cognitive status of their clients, based on video and audio inputs.
Helping to improve cross-cultural communication, the tool provides deeper insights on precisely what topics or key words attract attention, or cause clients to disengage.
On the other hand, Grameen Guru is a smartphone-based multilingual chatbot that leverages AR technology to help clients who cannot read and understand written material.
Using the app, a user can hold their phone over a brochure that details available financing options, for example, and the Guru virtual assistant will pop up and prompt a conversation in the local language to explain the material.
"Barriers ranging from illiteracy to a lack of bank branches in rural areas, coupled with a lack of confidence and access to information hinder adoption for millions of low-income women in India," said Prabhat Labh, CEO, Grameen Foundation India.
The use of these new technologies will enable effective economic empowerment of women, he noted.