“Capital One is now joining the slim ranks of organizations that might be described as “AI first.” It has built up two larger machine learning teams, in its Credit Cards line of business and at the enterprise level, as well as smaller teams in other lines of business. Today, the company is applying AI and machine learning to almost every facet of our business, whether customer-facing, such as enhancing fraud protection, or for internal processes, such as improving call center operations.”
Over the summer, Bank Hapoalim participated in a $30+ million funding round for ThetaRay, a cybersecurity solution provider using AI to help financial firms detect fraud and other anomalies in banking practices.
After partnering with the Tel Aviv-based startup giving biometric access to bank accounts, customers won’t even need to visit a physical branch to open a new account. AnyVision utilizes AI to produce what it calls the “world’s leading recognition system” that can be used, or a variety of purposes.
Capital One — United States
Coming in as one of the top 50 best US financial institutions on Forbes US Best Banks list, Capital One has been beefing up its AI capabilities by prioritizing ethical AI in its systems.
Omar Flórez, Senior Research Manager, decided to create a comprehensive Spanish-English dictionary of AI terms, which is available on GitHub as an open source project and freely available to anyone who wants to use it or add to it.
Sberbank — Russia
In 2018, the Russian bank ran its “Classic AI Competition” where it invited teams from around the country to compete in using AI to compose a poem in the likeness of a specified author with 1,000,000 rubles in prizes for placing teams.”
“One of the world’s largest banks explains how it uses natural language processing and intelligent assistants to improve customer service on the web and mobile. Read this insider glimpse into the future of banking and user interfaces.”
“Yes, you get your infrastructure from a cloud provider. But you also implement agile development practices. You implement DevOps deployment methods. And you use SRE operations processes. The overall approach is often called cloud-native. We all know cloud-native companies, because we use them every day. Netflix. Spotify. Lyft. Airbnb. It’s no accident that cloud-native and disruption go hand-in-hand. Using the power of cloud-native practices, these companies force transformation into industries. And leaves traditional companies with no hopes of catching up.”