How banking benefits from AI and voice technology

From the implementation of self-serve ATMs in the 1960s to the widespread use of computers in the late 1970s and early 1980s, Fintech has always been the cutting edge space for innovation that directly impacts the consumer. It's no surprise then that the banking industry spent nearly $30 billion on data and business analytics tools and software in 2019. Business Insider Intelligence estimates that banks can save as much as $447 billion through artificial intelligence by 2023, by using it for customer service, anti-fraud efforts, and underwriting support. Additionally, banks have been cited to use AI tech far more than many other industry, with 75% of banks already doing this to some degree. It's the consumer-side of banking that presents the greatest opportunity for AI integration, however.