10 AI in banking examples you should know - Fintech News

With plenty of post-recession anti-banking sentiment still lingering, it's common to see fintech and traditional banks framed in oppositional terms. There's some truth to that, especially with disruption-minded digital-only banks, but technological innovations have transformed banking of all stripes -- and nowhere is that clearer than with artificial intelligence. AI has impacted every banking "office" -- front, middle and back. That means even if you know nothing about the way your financial institution uses, say, complex machine learning to fend off money launderers or sift through mountains of data for fraud-related anomalies, you've probably at least interacted with its customer service chatbot, which runs on AI. Like fabric softener and football, banks -- or at least banks as physical spaces -- have been cited as yet another industry that's being killed by those murderous Millennials.