“At October’s Money 20/20 conference, Chopra unveiled a process for exercising the CFPB’s authority under Section 1033 of the Dodd-Frank Consumer Financial Protection Act that could lay the foundation for open banking. While specifics have yet to be defined, the rule would obligate financial institutions to share data with consumers upon their request. At the…
Month: January 2023
Shutterstock Has Launched Its Generative AI Image Tool
“Shutterstock, one of the internet’s biggest sources of stock photos and illustrations, is now offering its customers the option to generate their own AI images. In October, the company announced a partnership with OpenAI, the creator of the wildly popular and controversial DALL-E AI tool. Now, the results of that deal are in beta testing…
The economy is down, but AI is hot. Where do we go from here?
“In the past, economic downturns have shut off the funding taps for AI research. These periods are called “AI winters.” But this time we’re seeing something totally different. AI research is still extremely hot, and it’s making big leaps in progress even as tech companies have started tightening their belts.” https://www.technologyreview.com/2023/01/24/1067232/the-economy-is-down-but-ai-is-hot-where-do-we-go-from-here/
Podcast: Top bank tech and innovation trends for 2023
“What’s on the horizon for bank innovation and fintech in 2023? In this episode of the ABA Banking Journal Podcast — sponsored by xChange — ABA’s Office of Innovation team explores top tech trends for the year ahead. Among other topics, they discuss the growing role of investment in foundational infrastructure like core processing, how…
Credit unions turn to chatbots and AI for member service
“Credit union call centers and other lines of support for members have been under increased stress since the start of COVID-19 in 2020. But industry leaders and experts hold that artificial intelligence could be the answer. For the institutions that prioritized digital solutions against the sweeping closures of physical branches in the wake of the…