The beginning of the road for AI in finance, the best is yet to come


AI is just one of several technologies that banks and other financial institutions are using to improve internal processes and bring new experiences to their customers. This is borne out of necessity: if traditional industries don't embrace advanced technologies in the right use cases there is a real chance of disruption. Why would HSBC, for example, let a challenger like Starling Bank out-innovate them? Both the large and emerging players in the finance industry are opening their arms to AI. AI-based chatbots, for example, are increasingly be used as the first point of contact for customers. This point was reiterated by HSBC's AI programme manager, Sebastian Wilson, during a recent roundtable hosted by Information Age -- big banks are not standing still, because they realise the incredible level of service and personalisation that can be achieved when technology is used in the right way.