Have it both ways: AI in banking and capital markets - Middle East & Gulf News

Financial institutions today face numerous challenges--everything from intense regulatory pressures to upstarts coming at them from every direction with disruptive technology solutions--that threaten even their core businesses. According to a 2015 Capgemini report, 65% of affluent individuals will leave their current wealth management firm if an integrated channel experience is not provided. Per the 2016 Edelman Trust Barometer, from 2012 to 2016, global trust in financial services has risen by 8% to 51%--the largest increase of any industry surveyed--but it remains the lowest overall. In the U.S., 23.5 million households were unbanked or underbanked in 2015 (FDIC), while a staggering 2 billion adults globally were found to be unbanked in 2014 (World Bank). AI or artificial intelligence--what we like to call augmented intelligence--promises to make it possible for financial services organizations to respond to these imperatives, and with unexpected efficiency and agility.