LUMS Partners with Allied Bank to Explore Robotic Solutions for the Banking Industry

The Lahore University of Management Sciences (LUMS), via its CHISEL Lab, has initiated a tactical research and development alliance with Allied Bank to investigate how robotics and Human-Robot Interaction (HRI) can revolutionize financial service encounters.

The memorandum was finalized by Mr. Muhammad Zaman, Group Head of Digital Transformation & Innovation at Allied Bank, and Dr. Suleman Shahid, Associate Professor and Director of CHISEL Lab at LUMS, alongside officials from both organizations.

As part of this partnership, a Pepper Robot has been stationed at CHISEL Lab as a specialized study platform to facilitate testing and collaborative creation of robot-led solutions for the financial industry. The inquiry will prioritize client engagement, service execution, and supportive banking atmospheres. Specific applications produced through this program will be tested in practical environments, such as Allied Bank Digital Lounges, to analyze functionality, growth potential, and user acceptance.

A Combined Innovation Steering Committee will manage the project, with anticipated results featuring working models, pilot data, possible academic papers, and a reinforced connection between educational institutions and the corporate world.

“Teaming up with Allied Bank allows us to convert sophisticated research into tangible societal benefits. This alliance will fast-track breakthroughs in human-robot engagement and pioneer fresh methods for smart, person-focused service architecture,” stated Dr. Suleman Shahid.

“This venture demonstrates Allied Bank’s dedication to defining the evolution of finance through novel technologies. By utilizing robotics and human-robot connectivity, we intend to provide more seamless, productive, and customized client journeys,” remarked Mr. Muhammad Zaman.