Risk-related AI applications (risk management, lending, compliance, fraud and cybersecurity) account for 72% of the total $2.8 billion in funds raised for AI vendor companies in banking, according to the latest report by Emerj Artificial Intelligence Research. Compliance and fraud-related applications make up 32% of the total AI vendor landscape in banking, but banks report these applications as a mere 19% of their current AI initiatives. Bankers today see AI as a risk-reduction technology. Their AI initiatives are likely to yield negative ROI in part because they hold naive views about AI's integration and data requirements. Banks are eager to automate compliance specifically, especially given recent data privacy laws such as GDPR.