“Toronto-based Royal Bank of Canada (RBC) has launched a consumer-facing app that uses artificial intelligence (AI) to analyze spending habits and make budgeting recommendations, the bank announced Thursday. Based on data collected through the RBC mobile app’s NOMI Insights feature, NOMI Budgets makes personalized monthly budget recommendations in five areas: entertainment, shopping, cash withdrawals, transportation…
Month: April 2019
Trends to Watch in Regulatory AI
“According to PwC, 20% of business executives surveyed plan to incorporate AI throughout their companies in 2019. According to a survey by Duff & Phelps, compliance costs in the financial sector are on pace to double by 2022 – a staggering amount considering the current spend for compliance and regulatory obligations is already $270+ billion…
Walmart unveils an AI-powered store of the future, now open to the public
“Walmart this morning unveiled a new “store of the future” and test grounds for emerging technologies, including AI-enabled cameras and interactive displays. The store, a working concept called the Intelligent Retail Lab — or “IRL” for short — operates out of a Walmart Neighborhood Market in Levittown, N.Y. Similar to Amazon Go’s convenience stores, the…
TD Bank moves to Microsoft Azure cloud
“TD Bank Group (TD) will use Microsoft Azure as the cloud foundation to provide its technology and design teams with tools designed for efficient access to data and artificial intelligence (AI) resources. “Every financial services company today has an incredible opportunity to apply advances in cloud and AI to redefine every aspect of their business,”…
Interview: How Fashion E-Tailer And Recommendation Platform Suggesty Is Enabling Next-Generation International Commerce
“The second trend that I see with fashion ecommerce in the U.S. is that the customers are still more hesitant to make online purchases for more than $200. However, in Asia, consumers are more used to having a higher-priced digital transaction. We did experiment with AI, but at the end of the day, AI and…