Artificial intelligence will save banking industry $1trln by 2030

With AI's enormous potentials and amidst the growing demand for high-tech banking services from tech-savvy customers, a number of financial institutions are leaving no stones unturned in their quest for market leadership in the era of automation. Take for instance the highly important area of enhanced customer experience. Financial institutions have been harnessing the power of AI to deliver efficient and personalized services to achieve higher client satisfaction level and, more importantly, win customer loyalty. Banks are now more empowered to predict customer behavioural patterns by leveraging innovative AI tools-- a capability that allows for the delivery of customized products and services. In terms of customer interaction, financial institutions are utilizing'chatbots' applications acting as customer service agents.