How Will AI Transform Banking?
CB Insights briefing on AI in banking with CBI analyst Deepa Varadharajan.\n\nThis Interview was recorded on June 12th, 2019 at the Future of Fintech conference in NYC.\n\nFor more on Future of Fintech visit: events.cbinsights.com
The banking sector is targeting artificial intelligence
Technological advances in artificial intelligence in the banking and financial sector have continued to skyrocket in the past few years. The positive trend is projected to only increase.
The Asia-Pacific region is the most advanced artificial intelligence market in banking and finance. This growth is largely due to factors such as improved demographics and increased financial literacy..
Experts appreciate the role of AI in banking.
Supposedly, the introduction of technology will allow financial institutions to cumulatively save 447 billion dollars by 2023..
Most banks are well aware of the potential benefits of AI, according to a Business Insider Intelligence survey. In fact, many are planning to implement AI-powered solutions. 75% of respondents at banks with over $ 100 billion in assets reported that they are currently using the aforementioned tools. We are talking about chatbots and software to combat payment fraud.