“There are thousands of potential use cases for genAI in banking. A recent report, The generative AI advantage in financial services, by KPMG in the US, found that 76 percent of executives plan to use generative in fraud and prevention, 62 percent in customer service and personalization and 68 percent in compliance and risk.2 Yet, for now,…
BofA and U.S. Bank Turn AI Loose on Internal Bottlenecks
“Merrill Wealth Management and Bank of America Private Bank announced the full-scale rollout of AI-Powered Meeting Journey, a workflow tool that handles preparation, note-taking and follow-up for financial advisers. The bank says the capability can save advisers up to four hours per client meeting, across millions of meetings annually. The tool works in three stages…” Read more…
Stanford study outlines dangers of asking AI chatbots for personal advice
“Users’ preference for sycophantic AI responses creates ‘perverse incentives’ where ‘the very feature that causes harm also drives engagement’ — so AI companies are incentivized to increase sycophancy, not reduce it. At the same time, interacting with the sycophantic AI seemed to make participants more convinced that they were in the right, and made them…
Building the next wave of AI…A more human model of intelligent care
“Artificial intelligence has already transformed productivity, reshaped industries, and accelerated innovation across sectors. The next stage, in Freddy’s view, may prove just as transformative in a different dimension. Systems capable of remembering, responding with empathy, and supporting emotional well-being could redefine how humans experience technology in everyday life.” Read more >>
Stablecoins: What Community Banks Need To Know And Do Now
“What Community Banks Need to Do (Now) Community banks can’t assume that “we’re not in crypto” equals “we’re not exposed.” They can be exposed through their customers’ behavior, vendors’ integrations, and their own rail economics. Every bank—big or small—needs a stablecoin strategy (now). That’s not a choice. The choice is to what extent do you…