AI, predictive analytics top list of hot technologies for banks

Artificial intelligence, machine learning (a subset of AI), and predictive analytics top the list of hot, planned technology investments for banks in 2022, due to their ability to aid strategic business decision-making, help build applications that can serve customers in a personalized manner, and drive revenue growth, according to market research firm Forrester. Hot technologies for banks also include 5G, natural language processing (NLP), microservices architecture, and computer vision, according to Forrester's recent Top Emerging Technologies in Banking In 2022 report. The report, based on survey responses from tech decision makers in banks and their technology vendors, categorizes 30 different technologies into three main categories: "hot," "on-the-radar," and "hype." Technologies are considered hot if banks have lined up a planned investment in them in the next 12 months, Forrester said, adding that these new investments are expected to shape the future of the banking industry and customer experience. Among the hot technologies, artificial intelligence and machine learning -- a subset of AI that that makes more accurate forecasts and analysis as it ingests data -- continue to be of high interest as banks keep a strong focus on costs while trying to boost customer experience and revenue.