“Make the transition from opaque, closed-off strategies to clear, understandable tactics through explainable artificial intelligence (XAI). Some banks are already leading the way. J.P. Morgan Chase, for example, has its Explainable AI Center of Excellence (XAI COE) to bring researchers together to advance XAI objectives. By embracing XAI, banks can unlock several benefits: https://internationalbanker.com/technology/from-black-box-to-open-playbook-bringing-transparency-to-ai-in-banking/
Tag: ai Banking
EPAM: 96% of Consumers Happy With AI in Banking
Transactions: U.S. Bank, Pagaya join forces for AI-driven underwriting
“U.S. Bank is using technology company Pagaya to leverage its AI-driven underwriting for personal loans to consumers. Pagaya’s AI-powered credit decisioning platform will conduct a secondary review for consumers who are usually locked out of the credit market, according to the bank’s Feb. 15 release.” https://bankautomationnews.com/allposts/retail/transactions-u-s-bank-pagaya-join-forces-for-ai-driven-underwriting/
A Generative AI Roadmap for Financial Institutions – Boston Consulting Group
The Top 10 Banking Trends For 2024 – The Age Of AI
“This is not the first time banking has faced a critical moment. But while other tipping points, like digital and mobile banking, revealed themselves unhurriedly, the adoption of gen AI is happening with an almost frantic haste. Eighty-seven percent of banking executives expect a higher level of change in 2024 relative to last year and…