How the Financial Industry Can Apply AI Responsibly

THE INSTITUTE Artificial intelligence is transforming the financial services industry. The technology is being used to determine creditworthiness, identify money laundering, and detect fraud. AI also is helping to personalize services and recommend new offerings by developing a better understanding of customers. Chatbots and other AI assistants have made it easier for clients to get answers to their questions, 24/7. Although confidence in financial institutions is high, according to the Banking Exchange, that's not the case with AI.