“At the end of 2017, 52% of banks reported making substantial investments in AI and 66% said they planned to do so by the end of 2020. The stakes are enormous — one study found that banks that invest in AI could see their revenue increase by 34% by 2022, while another suggests that AI…
Tag: Banking
Brazil’s Banking Giant Bradesco Plans Artificial Intelligence Leap
“The bank, which has a portfolio of over 71 million customers, has been working on a platform dubbed Bradesco Artificial Intelligence (BIA) over the last four years. Currently, 90% of the bank’s services are already available via the app, but sales made via mobile currently represents about 20-30% of the overall business volume. “It’s a low [percentage]….
The Financial Service Industry of Tomorrow Runs on AI and Video Banking
“over $1 trillion of today’s financial services cost structure is exposed to replacement by machine learning and artificial intelligence (AI).” Meaning that in the near future, AI will have a huge impact on how financial services enterprises run and do business. Today, the main use case for AI in financial services is in the contact…
Banking: More personalised services could be delivered with AI
“Retail investors are prone to two key mistakes. First, they tend to buy at the peak and sell at the bottom because these decisions are heavily driven by emotions. Second, people tend not to review their portfolios, particularly if they are already underperforming. This is another problematic behavioural trait that AI can help improve. We…
How Banking Jobs and Job Requirements Are Being Affected By Artificial Intelligence
“An Arkansas bank, known a the First National Bank of Wynne, recently reported a 70% reduction in the amount it costs them to convert leads into customers after they adopted a strategy that relied on artificial intelligent chatbots to deal with customers interested in their services. Ceba, an AI-driven chat bot developed by the Commonwealth…