The 18 Top Use Cases of Artificial Intelligence in Banks - Fintech News

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This article in CustomerThink identifies many different solutions where Artificial Intelligence can enhance banking, but makes it appear these solutions are already widely deployed. While each solution is currently in-market by at least one large bank this is a far cry from broadly deployed. Mercator surveyed large banks and found 93 different Artificial Intelligence solutions deployed in 13 different departments. "Machines are getting smarter globally. Thanks to thriving Artificial Intelligence (AI) concept, companies can make their devices more powerful and'intelligent' to serve their customers in a better way. Both B2B and B2C businesses have started adopting this revolutionary technology as per their scale and size. However, the penetration of AI in the banking sector is somewhat limited to date. The distinct datasets and the risk of confidential data are primarily responsible for the sluggishness of AI integration in the banking system.