The Future of Banking: AI, Fintech, and How Banks Can Survive Disruption

  • “Ian Wilson, former Head of Artificial Intelligence at HSBC – businesses don’t need an AI strategy. Businesses need multiple AI strategies for each functional division at their company. What works for customer service isn’t going to work for anti-money laundering.
  • Interviewees highlighted three core challenges to adopting AI in banking:
    1. It’s unclear whether or not AI will generate an ROI
    1. Banks and their leaders don’t foster a culture that allows data scientists to experiment with AI so that it does generate ROI
    1. Banks have legacy IT and data infrastructures that weren’t organized for using AI”

    Check out the full article including podcast audio of the interviews.

    https://emerj.com/ai-podcast-interviews/future-of-banking/

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