These Banks Are Using AI To Help Their Customers Manage Their Finances

While many companies struggle to figure out what to do with AI, a few are emerging as leaders in deploying it, with only a handful succeeding in incorporating AI in the sensitive area of customer relations. The Royal Bank of Canada (RBC) and Israel Discount Bank, using an AI platform from Personetics, are premier examples of how to do AI right, right now. RBC is focusing its use of AI on "solving real customer problems--and the number one source of anxiety for Canadians is managing their finances," says RBC's Peter Tilton, Senior Vice President, Digital. "In finance, like in any other field, people want and expect faster, easier, more accessible and proactive service," says Arik Frishman, EVP and head of the digital and data division at Discount Bank. "AI is the main enabler for all of these," he adds.