AI Will Fuel the Financial-Services Revolution. Here's What to Know.
It's no secret that artificial intelligence (AI) is already changing the way we deal with money, and it has the potential to revolutionize banking as we know it. AI is already a common tool used for some up-and-coming fintechs, whether that's a robo-advisor or an automated-savings tool. Traditional banks are also recognizing its potential to offer a more personalized service for customers amid branch closures -- HSBC and Wells Fargo offer an AI experience that mimics a real-life assistant. However, while there's certainly an interest in and understanding of the technology's potential, the process so far has been slow, complex and difficult. Banks wishing to adopt AI to make a real change are faced with regulation, risk management and limitations within their own organizations.
May-22-2021, 06:50:26 GMT
- Country:
- Europe > United Kingdom (0.05)
- Industry:
- Banking & Finance (1.00)
- Information Technology > Security & Privacy (0.91)