“The 233-year-old financial institution is banking on “bots,” specifically robotic process automation (RPA), to improve the efficiency of its operations and to reduce costs. RPA integrates artificial intelligence and is carried out not by physical robots but by software applications. These applications known as web robots or Internet bots are programmed to process automated tasks. In…
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Video: Feedzai – AI Fraud Detection (Citi)
“CitiBank has made a strategic investment in Feedzai, a leading global data science enterprise that works in real-time to identify and eradicate fraud in all avenues of commerce including online and in-person banking. Through its continuous and rapid evaluation of large amounts of data, Feedzai can conduct large-scale analyses. Fraudulent or questionable activity is identified and the…
Video: Bank of America AI chatbot Erica
“Bank of America Corporation made a bold push into AI technology with the debut of an intelligent virtual assistant named erica. Erica is a chatbot leveraging “predictive analytics and cognitive messaging” to provide financial guidance to the company’s over 45 million customers.” Yesterday at #Money2020, @DigitalMMoore revealed innovative new capabilities coming to mobile and ATM….
AI in Banking – An Analysis of America’s 7 Top Banks
“The seven leading U.S. commercial banks have prioritized strategic technological advancement with investments in AI applications to better service their customers, improve performance and increase revenue. The future of finance will be heavily influenced by emerging fintech and AI applications setting the stage for increasing competitiveness among the industry’s leading giants. From our analysis of the…
Cybercrooks harness AI to good advantage
“Hyderabad: Artificial Intelligence is getting good at doing bad things swiftly, evident from the alerts put out by leading cybersecurity companies that attackers won’t just target AI systems but will create AI techniques themselves to amplify their own criminal activities. Although AI will help automate manual tasks, enhance decision-making and other human activities, it can…