How Artificial Intelligence is transforming the banking industry

Artificial Intelligence (AI) has been touted as the next major disruptor of the financial services sector. Shankar Narayanan, Head of UK & Ireland at Tata Consultancy Services (TCS), reflects on how the novel technology is transforming the banking landscape. Today, there is one innovation, above all else, that is shaping the future of the financial services (FS) sector through the entire value chain, whether a retail bank or a global financial institution – and this is Artificial Intelligence (AI). It's difficult to read any analyst or trends reports about the future of banking and FS without mentions of AI innovation. In many respects, this is because AI is a tool that's already having a significant impact.