Chatbots just the beginning for AI in banking

"We expect global investment in artificial intelligence to continue at a rapid pace, as the underlying technologies supporting AI mature and both incumbent banks and fintechs look to find ways to embed financial services offerings into home automation systems and other IoT enabled products," he says. Given financial services is highly regulated, the deployment of AI in banking will be accompanied by deep consideration of ethics and legal liability. As Microsoft's managing director, Steven Worrall, will tell The Australian Financial Review Business Summit on Wednesday – in a special session on the impact of disruptive technologies – artificial intelligence can be used to help solve big problems, but just because technology can do something, doesn't mean it should.