These are the top trends that will define the banking industry in 2017

Artificial Intelligence (AI) will evolve from a buzzword to a critical capability that helps drive better outcomes for clients (e.g., advice tailored to their specific and complex needs), increases efficiency for banks, and solves for talent shortfalls in banker advisory skills. AI, already at work in our living rooms (Alexa), phones (Siri), investment portfolios (robo-advising), and back office (chatbots) will be rapidly deployed across banking's front lines over the next 24 months. These will be primarily first- and second-generation interfaces used to stimulate needs-based discussions with clients. Next-generation advisory models being developed by leading banks will leverage AI interfaces that assess a large number of complex data sets including: econometrics, industry trends, peer analyses, foreign and domestic tax rates, bank fees, FX, interest rates, cash-flow cycles/seasonality, liquidity needs, costs of capital, etc. These data sets are mapped against the client's current, short-, medium-, and long-term needs to create highly tailored advice.