How artificial intelligence is changing the game for banks

Lewis Z Liu

Cofounder of Eigen Technologies

  • “Benoit Legrand, ING’s chief innovation officer, says the bank is investing, in part, to signal that it is backing the technology.
  • ‘We are signalling that we are committed for the long term and that we have validated the technology,’ he says.
  • ‘Natural language processing will dramatically change the way we will operate. There is a tremendous amount of hidden knowledge locked away at a bank — we’re sitting on a goldmine. This will give us a way to access it,’ he says. ‘We will be able to make faster, better decisions on everything from mortgages to calculating how much collateral the bank holds.’”

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