“The conversation surrounding artificial intelligence moves so fast that it’s hard at times to digest what it means. Adoption of AI tools in some sectors of the banking business occurs at a similarly breathtaking pace. The Bank of New York, for example, has trained 99% of its workforce, from the top down, in using its Eliza…
Tag: artificial intelligence
Agentic AI In Banking Is Ending Finance’s Years-Long Tech Lag
“The next phase centers on semantic knowledge graphs and architectures designed to unify decades of institutional memory. With this foundation, agentic systems can navigate deeply entangled environments, automate processes that once required teams of specialists, and accelerate modernization by orders of magnitude. The traditional build-versus-buy debate is giving way to a more essential question: what…
JPMorgan Chase’s Derek Waldron on building an AI-first bank culture – McKinsey
“Prioritizing focus matters because many institutions end up in proof-of-concept [POC] he##, with more pilots than American Airlines. They start many projects but don’t get them to production, so there’s no significant economic difference. What’s most effective is to look at core workflows important to your economics. If you’re an automotive firm, that might be…
Five Real-World Ways AI Can Boost Your Bank’s Operations
“‘Banks and credit unions have to stop thinking about AI as a function. They can’t be thinking about AI in terms of a ‘Chief AI Officer’ or an ‘AI initiative’ or an ‘AI policy’,’ said Tony DeSanctis, senior director at Cornerstone Advisors, during a recent webinar. ‘We need to be thinking about AI being integrated into everything we…
AI adoption will trim banking industry costs by up to 20%
“Artificial intelligence is expected to drive up to 20% in net cost reductions for banks as the technology is implemented across the industry, according to McKinsey & Co.’s Global Banking Annual Review 2025 published last week. But AI-driven cost savings aren’t expected to last, as competition will erode gains for banks and savings will pass to customers rather than the…