Artificial intelligence is a technology breakthrough that is part of an average person's everyday life. Our smartphones use AI for their digital assistants like Siri and Cortana. Amazon is using AI to predict what products you need or may be interested in when you shop. The music you are hearing is based on an AI algorithm. And Facebook is using AI facial recognition to suggest "tags" when you upload a picture.

Artificial intelligence is one of the most hot-button topics these days. Countless industries are beginning to utilize AI tools in the interest of becoming more agile and responding to market demands more quickly and efficiently – and the finance realm is no different. In fact, AI is becoming a major buzzword in the financial services industry. Banks are beginning to utilize these kinds of technologies to make sense of all the customer data flowing into their organizations, which helps to capitalize on key insights and create better business practices by addressing industry concerns as they come up. It's becoming clear that banks will need to create even stronger AI strategies in the near future in order to deal with the rapidly changing regulatory environment and customer demand.