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Artificial Intelligence is the New Electricity: Why Are Banks Avoiding It?

#artificialintelligence

Harry Chiang is a Financial Analyst at I Know First. "The big paradox here is that people think technology will lead to banking becoming more and more automated and less and less personalized, but what we've seen coming through here is the view that technology will actually help banking become a lot more personalized." Over the past few years, news articles have casually floated the term'Artificial Intelligence' around at an increasing rate. It's one of those buzzwords that somehow finds its way in to every tech-related conversation. Even the least tech-savvy person has a vague notion of what it is. The problem is, some of the more tech-savvy person don't have a much clearer notion of what it is either. The definition of AI ranges and has vague boundaries.


Artificial Intelligence in Finance: AI is the New Electricity

#artificialintelligence

This article was written by Harry Chiang, a Financial Analyst at I Know First. "The big paradox here is that people think technology will lead to banking becoming more and more automated and less and less personalized, but what we've seen coming through here is the view that technology will actually help banking become a lot more personalized." Over the past few years, news articles have casually floated the term'Artificial Intelligence' around at an increasing rate. It's one of those buzzwords that somehow finds its way in to every tech-related conversation. Even the least tech-savvy person has a vague notion of what it is. The problem is, some of the more tech-savvy person don't have a much clearer notion of what it is either. The definition of AI ranges and has vague boundaries.


The Use of AI in Banking is Set to Explode

#artificialintelligence

AI can improve customer personalization, identify patterns and connections that humans can't, and answer questions about banking issues in real-time. Financial institutions are already finding success with AI. However, what may be'amazing' today will be table stakes in the near future. Artificial intelligence (AI) is not new to banking. If we consider that the definition of AI is the ability for machines to interact and learn to do tasks previously done by humans, the history of AI goes back to the 50s in the banking industry.


The Use of AI in Banking is Set to Explode

#artificialintelligence

AI can improve customer personalization, identify patterns and connections that humans can't, and answer questions about banking issues in real-time. Financial institutions are already finding success with AI. However, what may be'amazing' today will be table stakes in the near future. Artificial intelligence (AI) is not new to banking. If we consider that the definition of AI is the ability for machines to interact and learn to do tasks previously done by humans, the history of AI goes back to the 50s in the banking industry.


The Use of AI in Banking is About to Explode

#artificialintelligence

AI can improve customer personalization, identify patterns or connections that a human couldn't find, and answer questions about banking relationships in real-time. Firms are already recording amazing success with AI in banking. What is amazing today, however, will be table stakes in the near future. Artificial intelligence (AI) is not new to banking. If we consider that the definition of AI is the ability for machines to interact and learn to do tasks previously done by humans, the history of AI goes back to the 50s in the banking industry.