AI in 2020: Artificial Intelligence? Or just plain artificial? - InvestmentNews

While some facets of the sci-fi classic have come to pass, such as voice-command technology, and others are currently unfolding, such as the destructive effects of climate change, the dramatic AI advances that fool Harrison Ford still feel a long way off. But that hasn't stopped AI from becoming one of the buzziest terms thrown around by technology and financial services experts. Fintech startups use the word to make products appear cutting-edge and established firms find they have to offer "AI" to remain competitive. The products they are referring to as AI, though, are often little more than new data models or even just outright vaporware -- technology sold on a conceptual level that hasn't been built yet, according to many technology leaders in the advice industry. "There are a lot of packages out there that are more'artificial' than'intelligence'," said Raj Madan, BNY Mellon Pershing's managing director of technology.