Artificial intelligence could help customers reach home ownership goal

An Australian bank will use artificial intelligence to assist customers in budgeting and reaching their home ownership aspirations. UBank has announced plans to use AI similar to fitness tracking apps to help address budgeting and saving problems for Australian consumers. The technology, due to be launched late this year, will help customers track their daily spending and savings said Leo Hatton, UBank CEO. "Our goal is to help our customers take control of their financial positions more closely so they can achieve their bigger dreams, including home ownership." Research by UBank found that two million Australians have less than $1,000 saved while 61 per cent don't have a dedicated savings plan and 35 per cent are without a savings account.