Bankers say artificial intelligence will separate winners and losers

The use of artificial intelligence (AI) technology at banks will be the difference between success and failure for them in the coming years, according to around three-quarters of bankers. According to a survey by the Economist Intelligence Unit (EIU), for Temenos, only cyber security will be a bigger primary focus for technology investment than AI in the next few years. A total of 35% of executives said cyber security is their primary technology investment focus, compared with 33% prioritising AI platforms. Banks recognise the importance of investing in technology to improve customer services, with AI's potential to personalise customer experience seen as an attractive prospect. Some 77% of respondents said AI will separate the winners and the losers.