How can artificial intelligence assist the financial services industry?

There is huge amount of noise currently about the use of artificial intelligence (AI) in the financial services sector. Every fintech application or new piece of banking software must be accompanied by bold claims about its use of AI, even though in many cases they are simply upgraded algorithms. It would certainly be beneficial if we had an AI application that could cut through the spin and present us with only what is relevant to the specific requirements of our job or organisation. In truth, such advanced filtering applications are already available. They are just one of the AI-driven applications that are going to transform the way customers view financial organisations, especially in the retail banking and lending sector. See also: Should financial experts fear the rise of artificial intelligence?