ECONOMY BUSINESS & A.I.

Over the years of the Business Industry, the industry has created its own data which is now the new oil of the world. And the funny thing is everyone has their own oil to generate business energy. Data is shaping the business framework all around the world and transition to Nepal and Nepal's Business Industry is destined to arrive sooner or later. We all have witnessed the transition from manual bookkeeping to the use of accounting software and business intelligence. In the same way, business has changed its core strategy with the use of technology, like big tech giants are now the biggest advertising company around the world. In Nepal as well rise of the online marketing platform is clearly visible adoption of technological change. We can clearly see the trend, this is the time each business and business professionals need to update their technological skills.  Business professionals are responsible to take a business decision and many of those decisions are made on the basi...

Nepal has the GDP growth rate of around 6% as per the data of world bank in 2019, one of the major contributor of GDP is service sectors. Banking Business is largest service industry of Nepal. Banking sector is considered as the high tech adopting industry in Nepal and has adopted the banking practice of west.  At the end of decade 2019, the big thing rose up is the use of Machine Learning and Artificial Intelligence. Nepal is far behind in adopting the changes and Banking industry has not changed the ground working platforms. The recent trend of increasing interest on deposit and creating unhealthy competition in the overall industry which created decline in GDP growth rate and has hit hard to small and medium sector business.  Banking sectors should looks forward to add more dimension to the business rather than pulling and pushing each other customers. Banking industry should start from satisfying the customer from personalizing their services and adding more anal...