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AI-bank of the future: Can banks meet the AI challenge?

#artificialintelligence

In 2016, AlphaGo, a machine, defeated 18-time world champion Lee Sedol at the game of Go, a complex board game requiring intuition, imagination, and strategic thinking--abilities long considered distinctly human. Since then, artificial intelligence (AI) technologies have advanced even further, 1 1. AI can be defined as the ability of a machine to perform cognitive functions associated with human minds (e.g., perceiving, reasoning, learning, and problem solving). It includes various capabilities, such as machine learning, facial recognition, computer vision, smart robotics, virtual agents, and autonomous vehicles. See "Global AI Survey: AI proves its worth, but few scale impact," November 2019, McKinsey.com.


How to donate Thanksgiving leftovers and unused ingredients

FOX News

Uneaten Thanksgiving food and ingredients don't have to go to waste. Though you might feel stuffed after such a feast, leftovers or unused food and ingredients -- like canned vegetables -- don't necessarily have to go to waste. Read on to learn about how you can help out, along with a few other ways to give back this Thanksgiving. Through the Feeding America website, users can search for food banks in all 50 states and the District of Columbia. The non-profit organization says that its "nationwide network of food banks secures and distributes 4 billion meals each year through food pantries and meal programs throughout the United States."


Burglars steal Lotto scratchers from liquor store, try to take the ATM too

Los Angeles Times

Police in Garden Grove are looking for at least three men who used a minivan and some rope to try to steal an ATM from a liquor store and made off with thousands of California Lotto scratchers. Police said a white minivan backed into the Shop & Go liquor store parking lot just before 3 a.m. A man walked to the front door, pried it open and stole reams of scratchers while another grabbed rope from inside the car and tied it to the shop's ATM. Then, authorities said, the men hopped back into the van as the driver tried to pull the ATM from the store. He tried three times before the rope snapped.


Banks are banking on AI to get to know their human customers better

#artificialintelligence

In the next stage of artificial intelligence adoption, banks will use AI to help understand the intentions and emotions of customers and enable better interactions, according to a new report from Accenture. According to the report, Accenture Banking Technology Vision 2017, more than three-quarters (78%) of bankers believe that AI will enable simpler user interfaces that will help banks create a more human-like customer experience. In addition, four out of five respondents (79%) believe that AI will revolutionize the way banks gather information and interact with customers, and three-quarters (76%) believe that within three years, banks will deploy AI as their primary method for interacting with customers. "Consumers' diverse needs and priorities are forcing financial services firms to redefine how they interact with them to determine the best products and services to meet individuals' needs," said Alan McIntyre, a senior managing director at Accenture and head of the company's Banking practice. "AI-enabled tools can help banks identify consumer preferences and empower their workforces to react with insight and emotional intelligence, which is essential for the development of meaningful consumer relationships.


Reimagining customer engagement for the AI bank of the future

#artificialintelligence

From instantaneous translation to conversational interfaces, artificial-intelligence (AI) technologies are making ever more evident impacts on our lives. This is particularly true in the financial-services sector, where challengers are already launching disruptive AI-powered innovations. To remain competitive, incumbent banks must become "AI first" in vision and execution, and as discussed in our previous article, 1 1. Suparna Biswas, Brant Carson, Violet Chung, Shwaitang Singh, and Renny Thomas, "AI-bank of the future: Can banks meet the AI challenge?," If fully integrated, these capabilities can strengthen engagement significantly, supporting customers' financial activities across diverse online and physical contexts with intelligent, highly personalized solutions delivered through an interface that is intuitive, seamless, and fast.