“Bank customers’ behavior is shifting from just searching the internet for financial information to asking gen AI for more definitive information about what to do with their money.2 Banks should consider building on classic SEO by developing robust generative engine optimization (GEO) capabilities. Unlike SEO—which focuses on driving traffic—GEO is designed to ensure inclusion and correct…
The central bank of central banks just released its flagship annual report — and it sees a $1 trillion AI investment boom headed for a reckoning
“The canal mania of the 1830s. The British railway bubble of the 1840s. The dot-com crash of 2000. Each began with a genuine technological breakthrough that attracted more capital than commercial returns could ultimately justify. Each ended in a recession… What makes an AI bust particularly dangerous, the BIS argues, isn’t just the scale of…
Wells Fargo CEO: AI’s effect on employment is ‘complicated’
“‘I find it very surprising when really smart people take one side or the other,’ Scharf said during an appearance at a Bernstein investor conference. ‘They sit there and they say, ‘it’s not a threat to employment,’ or they sit there and say, ‘it’s a huge threat to employment.’ ‘It’s so obvious to me, looking…
Fifth Third Launches AI-Powered Interface in Mobile App
“The new capability helps customers navigate Fifth Third’s mobile app more intuitively. Rather than scrolling through menus, customers can simply type what they need—such as ‘replace card,’ ‘find ATM,’ ‘transfer funds,’ or ‘closest branch’—and be guided directly to the most relevant experience, whether that is a simple mobile screen for task completion, an AI-powered chatbot,…
Augustus Receives OCC Conditional Approval to Charter the First Clearing Bank For The AI Era
“For decades, fintechs innovated on the front end, building applications on top of 20th century infrastructure. Augustus is a break from the past—a nationally chartered US bank built from scratch around a truly modern core: programmable, autonomous, and always on—a true system of action. We’re seeing the demand already today, and the advent of the…