“The global market for AI-based cybersecurity products amounted to roughly $15 billion in 2021, and it is forecast to reach a value of around $134 billion by 2030. With cyberattacks on the rise, the advanced protective capabilities of cognitive AI are now necessary to protect consumer and corporate data.” https://www.entrepreneur.com/science-technology/5-areas-where-every-business-should-be-using-cognitive-ai/456661
Tag: Financial Services
How AI can advance open banking
“Compared to 17 million people who use Buy Now Pay Later (BNPL) services in the UK, Open Banking remains relatively low, as stated by the seven million figure previously mentioned. With that said, it has been increasing, and may rise from 15% of the public to 44% by 2027 if this trajectory continues.” https://bdtechtalks.com/2023/08/10/ai-open-banking/amp/
Using AI to Build Stronger Connections with Customers
“Bain & Company’s latest survey of almost 30,000 banking customers in 11 countries found that the respondents who agreed that their bank personalizes the experience are more likely to reward it with a higher NPS. There’s a 123-point difference in NPS between respondents who strongly agree that their bank interacts based on knowing who they…
American banks dominate AI transformation race
“‘Maintaining a ‘wait and see’ approach to AI innovation looks increasingly risky given the pace at which the leaders are accelerating away from the rest of the field,’ Annabel Ayles, co-founder and COO of Evident, said by email. ‘While AI innovation comes at a cost, it is cheap if measured as the cost for survival,’…
What Banking and Tech Leaders Are Saying About Generative AI
“Generative artificial intelligence is just a fad. Or it’s a game-changer. You aren’t moving quickly enough with AI. Or you can’t move quickly because it’s dangerous. Really, what the heck is everybody saying about this increasingly versatile and seemingly ubiquitous technology? Here’s a sampling of perspectives from across the industry.” https://thefinancialbrand.com/news/data-analytics-banking/artificial-intelligence-banking/what-banking-tech-leaders-say-about-generative-ai-165011/