Risks Lurk in AI Tools that Marketers Increasingly Rely On

When most bankers think of artificial intelligence and machine learning, they likely think of underwriting models and chatbots. However, the potential uses of these technologies keep growing, virtually limitless. Unfortunately, many in the banking industry don't know how these new technologies are being used in financial services. For example, marketing and business development teams may not recognize the artificial intelligence and machine learning elements driving many of their own tools, and likely do not fully understand the risks the technology could pose to the organization. Compliance considerations may not be consistently included in key decisions and processes that could have a big impact on the organization's risk profile as artificial intelligence and machine learning proliferate.