Banks should be adopting AI… or should they?

(Image credit: Image Credit: Geralt / Pixabay)

“Banks must commit to automation by considering fundamental changes to their processes and workflows. A major stumbling block for most organizations is that they don’t go far enough when automating: they will digitalize a process, but still require a human to press a button to start that process. Automation should be about linking systems together, so that they can trigger one another and drive forward.”

Octane AI is Announced as the Best Storefront App by Shopify

“Being able to ask our customers questions to build their profile and recommending them the right product has been one of the largest drivers to our growth. The personalized experience made customers trust our brand and we have seen a 3x increase in our email opt-in from the Octane AI Shop Quiz.”

Tomorrow’s autonomous bank account: AI & the evolution of banking

“The bank account of the future is upon us. In fact, many could argue, it is already here. We have already started to see the introduction of artificial intelligence into our banking systems. Micro-investment platform Raiz, where users can invest their spare change, is a great example of using data analysis to provide useful insights to customers about their finances.”

Nvidia introduces set of new products to tackle growing AI demands

  • “Nvidia Drive Atlan, which will deliver more than 1,000 trillion operations per second, and targets automakers’ 2025 models.
  • Nvidia “Grace” CPU is designed to address the computing requirements for the world’s most advanced artificial intelligence applications – including natural language processing, recommender systems, and AI supercomputing
  • Nvidia Jarvis will enable a new wave of language-based applications, improving interactions with humans and machines”

A Kellogg marketing professor explains how to use AI and analytics to grow your business

  • “The first step to success, he said, falls to leaders, who must develop a working knowledge of data science.
  • ‘You would never be caught dead saying I don’t know anything about finance, but I’ve got this really smart CFO that knows everything about finance,’ said Anderson. The same should also be true of data science. ‘You can’t make the right investment decisions until you know a little more about the science.’
  • if you go back and ask yourself, ‘Do we have a well-established process for doing AI and analytics in the company?,’ the answer most places is no,” said Anderson.”

Eric Anderson

Professor – Northwestern

Kellogg School of Management