How banking is using artificial intelligence to pick up financial distress

And there are few fields where AI is driving innovation as quickly as in the thriving fintech sector, an area in which Scotland is rapidly building a world class reputation. Financial institutions of all sizes are developing and implementing advanced AI systems designed to pick up and prevent financial distress among customers. This includes the likes of Royal Bank of Scotland, which recently opened a research unit dedicated to solving real-world problems with data-driven innovation. In its broadest definition, AI has been with us since the advent of machine learning in the 1950s. But today's tech, based around systems capable of not just holding data but understanding and interpreting it intelligently, opens up a world of possibilities. There are two main reasons why AI is now coming to the fore, explains Stephen Ingledew of FinTech Scotland: "The first is the power of technology to manage a huge amount of data and understand it.