“Money laundering accounts for up to 5% of global GDP – or $2tn (£1.5tn) – every year, says the United Nations Office on Drugs and Crime. So banks and law enforcement agencies are turning to artificial intelligence (AI) to help combat the growing problem. But will it work? ‘Estimates suggest that not even 1% of…
Tag: Banking
To Battle Fin-Tech Upstarts, Big Banks Are Turning to—What Else?—Technology
“One recent report from the International Data Corp. found that the banking industry is the second biggest investor in AI technology worldwide behind retail. ‘The financial industry is uniquely ready to make a move in the space and bring that computational experience,’ says Jason Mars, CEO of Clinc, a startup that makes chatbots for financial…
Jamie Dimon and Chase are all-in on AI
If you’re involved in financial services you’re likely familiar with the name Jamie Dimon. If not, he’s the Chairman and CEO of JP Morgan Chase, and arguably one of the most influential leaders worldwide. A quick Google search will return references to “America’s Most Important Banker,” “Savior of Wall Street.” “Last CEO Standing.” With that…
AI and video banking join forces
I read a lot of these articles on a daily basis and it’s easy to identify the ones that are repeating the same old story to build SEO; and, I scrub those out so that you’re not stuck reading the same thing every day. This one is clearly different with the concepts of predictive routing…
Artificial Intelligence is spurring a whole new kind of conversation in banks
“The world already has 2.5 billion smartphone users. More than 37 percent of the world is using messaging apps today, and approximately 20 million already use smart speakers. For example, if a customer wants their bank statements, all they need to do is send a message to the chatbot. The details will be furnished to…