Council Post: How To Overcome Five Roadblocks When Implementing AI/ML In The Financial Sector

Do you have a digital wealth management application for your investment portfolio that recommends investing in specific funds? You are likely using artificial intelligence (AI) to manage your money. From automating and optimizing processes to using conversational AI for enhanced customer engagement and fraud detection, AI and machine learning (ML) are leaving an indelible mark on banks and financial institution performance, completely disrupting the financial industry. In fact, the global market for AI in banking is expected to reach $64.03 billion by 2030. Today, 80% of banks are very aware of the potential benefits of implementing AI, and a majority are looking to deploy AI-enabled solutions.