Driving innovation in finance through trustworthy AI - FinTech Futures

Artificial intelligence (AI) is fast becoming an essential tool for the financial services industry. According to Insider Intelligence's AI in Banking report, most banks (80%) are highly aware of the potential benefits presented by AI. The opportunities in this space are legion, but AI solutions require careful governance, with the right checks and balances in place to ensure that they are robust and fair. The scope of possible uses for AI and machine learning in finance stretches across business functions and sectors. In the financial services space alone, AI tools are already used to refine customer service, client segmentation, fraud prevention and loan assessment, to name just a few.