AI-bank of the future: Can banks meet the AI challenge?

In 2016, AlphaGo, a machine, defeated 18-time world champion Lee Sedol at the game of Go, a complex board game requiring intuition, imagination, and strategic thinking--abilities long considered distinctly human. Since then, artificial intelligence (AI) technologies have advanced even further, 1 1. AI can be defined as the ability of a machine to perform cognitive functions associated with human minds (e.g., perceiving, reasoning, learning, and problem solving). It includes various capabilities, such as machine learning, facial recognition, computer vision, smart robotics, virtual agents, and autonomous vehicles. See "Global AI Survey: AI proves its worth, but few scale impact," November 2019, McKinsey.com.