RPA-Robotic Process Automation is the most familiar technology in the banking sector. To deliver the best experiences to customers and automate routine tasks, the banking and financial service providers are increasingly deploying RPA applications. Artificial Intelligence (AI) and RPA-enabled virtual banking solutions help banks and financial organizations to optimize the service quality and alter the customer-to-brand interaction ways. In this evolving digital era, RPA-powered mobile apps and enterprise-level software applications are the best assets for banking and financial companies. They help service providers to overcome the challenges that persist in the traditional banking methods, boosting operational efficiency and productivity and remaining on top of the emerging digital world.

Summary: Based on a McKinsey study we reported that 47% of companies had at least one AI/ML implementation in place. Looking back at the data and the dominance of RPA as the most widely reported instance makes us think that the number is probably significantly lower. We've been trying to get a handle on who has actually adopted AI/ML and to what extent. So we've been combing through these great new data sources from the good folks at McKinsey in their AI Adoption Survey, and Stanford's Human-Centered AI Institute 2018 AI Index which we used in our previous reporting. But one thing kept bothering me.