How banks can ride the artificial intelligence wave

After a chequered history of six decades, artificial intelligence (AI) is not only back in the news, but making headlines for never-seen-before developments--a case in point being Sophia becoming the first robot citizen of Saudi Arabia. There is a strong technology tailwind to thank for the advances in AI. Computing power is expanding rapidly, even as its cost comes down. Connected devices and the internet of things (IoT) are spewing massive quantities of data for consumption by advanced analytics solutions. Further, the Open Source movement is fuelling AI-led innovation.