Brazilian Banks Take The Lead In AI

A recent piece from Angelica Mari of ZDNet shows that the number of Brazilian banks that see artificial intelligence (AI) as a strategic priority is higher than many mature markets. About 30 percent of local institutions in the country are seeing AI playing an important role in their innovation plans, according to GFT Technologies' Digital Banking Expert Survey. By comparison, 23 percent of sector firms in the UK and Mexico see AI as crucial in their strategy, while only 17 percent of US banks perceive the technology as an important aspect of their overall plans, the study from the financial services vendor says. Banking giant Bradesco is the highest profile supporter of AI technology in Brazil and has been piloting IBM's Watson for over a year. Earlier this year, the bank has announced its plans to make its Watson-based artificial intelligence system available to end consumers.