Why Incremental Progress on AI in Banking Will Be the Best Way Forward “In our incremental AI landscape, choosing partners that value a financial institution’s relationship with its employees (and those employees’ relationships to customers) will be critical. Humans will play a significant part in banking processes for a long time – as they should,…
Tag: AI
Ai Weekly – April 20
Limiting the risky side of AI in financial services “Companies aren’t the only ones embracing AI; their employees are, too. For example, Salesforce found that 55% of employees used unapproved generative AI (gen AI) tools at work. Nearly 70% of that same population have never completed, let alone received, training on how to use gen AI…
How Bank of America scaled AI
“Bank of America has reached a major milestone in its AI journey: More than 90% of its 213,000 employees now leverage the Erica for Employees virtual assistant, the company said in a Tuesday announcement. The AI-powered tool was rolled out in 2020 to ease IT administrative processes when pandemic concerns drove a pivot to remote work….
AI Weekly – March 30
How banks can turn AI’s promise into real impact “To make that happen, banks must invest in core AI capabilities, such as reusable tools, machine-learning operations, and enterprise data management. In addition, many banks have found it useful to set up a “control tower” that oversees AI strategy. The control tower is a centralised entity…
AI Weekly – March 23
NatWest seals milestone UK banking collaboration with OpenAI “NatWest and OpenAI have joined forces to enhance the lender’s digital assistants and customer support processes using artificial intelligence, in the first collaboration of its kind with a UK-headquartered bank. The lender has put AI at the heart of key strategies to improve customer experience, cut costs…