After my blogs on the positives and negatives of Artificial Intelligence in the business of microfinance, I want to write a third on how AI can help rural India. After all, we should use such transformative technology to uplift the poor and marginalized communities.

The first aspect that comes to mind is education, as access to quality education remains a fundamental challenge for the poor. AI-powered applications can offer personalized learning experiences. Tailored content is the best way to facilitate personalized adaptive learning. Such targeted interventions can enhance learning outcomes ensuring that learners, regardless of their socioeconomic background, receive tailored education through which they may break out of the cycle of poverty.

After content and learning capabilities, another major factor that hampers education in villages is access to quality tutors who can handhold the student beyond traditional academic institutes. Solutions with AI-powered chatbots and virtual assistants may be able to support students by providing instant feedback, answering questions, and offering guidance through online platforms and e-learning tools.

After education, let us move to healthcare, another major area where our rural segments lag. While India has progressed a lot in taking quality healthcare to the remote corners of the nation, there is still a big gap between urban facilities and what is available in the villages. Access to quality healthcare remains a significant challenge for the poor.

We should be able to bridge the gap through AI, especially by improving prevention, diagnosis, and treatment. In the coming days, we can expect AI applications to analyze medical data, identify patterns, and provide much better diagnoses, even in remote areas with limited healthcare resources, which can then be taken to the telemedicine platforms for patients to connect with healthcare professionals for remote consultation. On this note, I hear that with AI, prevention will play a much bigger role since early disease detection will help individuals take remedial measures for their health and well-being.

In our world of finance, we can expect much accelerated financial inclusion if we use artificial intelligence. While organizations such as VFS Capital keep increasing their footprint, one of the biggest hurdles the poor face is limited access to financial services. Better applications providing support with credit scoring while also leveraging non-traditional data points to assess creditworthiness will help minimize defaults and mobilize the funds to serve underserved populations through microfinance and other services that were previously out of reach. Chatbots and virtual assistants will also help our customers make informed financial decisions, manage their expenses, and improve their financial literacy, hopefully in the vernacular.

Leveraged well, AI can empower rural India in multiple ways fostering the well-being of the underprivileged. However, it is also crucial to prioritize ethical considerations and ensure that the collaboration between communities, organizations, and government is intact.

I am frequently approached by the panicking youth, especially from the villages, asking me if AI will steal jobs from humans. The answer demands a separate blog altogether.