× Bengaluru-based Archeron group plans to open five banks that are run entirely by AI and quantum technologies A bank has three major operations — borrowing, lending and investing (treasury). All three can be managed by algorithms. Bengaluru-based Archeron group, which offers solutions in artificial intelligence (AI) and quantum technologies, wants to open banks where all the three operations are fully managed by AI and run by quantum technologies. The group’s founder, Aviruk Chakraborty, is an adviser to the UAE government on AI. Chakraborty tells Quantum that the group will have five separate banks operating in different geographies by the end of the year, but none in India, because regulations do not allow it yet.