Artificial Intelligence: The Weapon of Choice in Banks' Fight for Survival

With machine learning models that ascribe human intuition and intelligence to digital platforms, traditional financial institutions can slash costs, reduce manpower, improve the banking experience and stay competitive. Subscribe to The Financial Brand via email for FREE!Banking consumers are demanding more individualized experiences as they become increasingly accepting of new technologies. In the era where tech giants like Google, Apple, Facebook and Amazon dominate, people have become accustomed to seeing personalized offers built on data that they voluntarily provide, and now it's a common expectation. This affords banks and credit unions the opportunity to meet their customers' needs and set themselves apart. A few leading banks are doing just that -- expanding on the artificial intelligence system used by voice-powered devices like the Amazon Echo, Google Home and Apple's Siri to improve service and enhance the customer experience.