Zest AI CEO: Artificial Intelligence Is Reshaping Lending and Credit

  • “‘On average, our customers will see a 20 percent lift in approvals and a 30 percent reduction in charge-offs just by deploying better math,’ de Vere said.
  • De Vere said when he shows would-be clients that his company’s ML software package offers a 10- to 50-times return on investment, ‘it becomes a very easy pill to swallow.’”

https://www.google.com/amp/s/www.pymnts.com/loans/2020/zest-ai-ceo-artificial-intelligence-is-reshaping-lending-and-credit/amp/

RBC launches its first AI stock trading program

Photographer: Stephanie Foden/Bloomberg
  • “Royal Bank of Canada is launching an artificial intelligence-based electronic-trading platform to clients around the world
  • Aiden was jointly developed by RBC Capital Markets and the Borealis AI research center, which is backed by the bank and led by inventor Foteini Agrafioti.”

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-10-14/rbc-rolls-out-ai-based-trading-platform-to-global-clients

New-gen banking: A bank built for the millennial must function as their financial wellbeing manager

  • “This year alone, millennials will constitute 35% of the global workforce. Within a decade, their aggregate income will surpass $4 trillion.
  • By 2030, MZ (Millennials and Gen Z) in the US will witness a five-fold increase in their wealth as they are set to inherit $68 trillion from their Baby Boomer parents
  • A major bank in Australia that redesigned a credit card to appeal to millennials specifically discovered that usage volumes grew by 70% and new-accounts by 40%.”

https://www.google.com/amp/s/www.financialexpress.com/industry/banking-finance/new-gen-banking-a-bank-built-for-the-millennial-must-function-as-their-financial-wellbeing-manager/2097739/lite/

What’s New In Gartner’s Hype Cycle For AI, 2020

  • “47% of artificial intelligence (AI) investments were unchanged since the start of the pandemic and 30% of organizations plan to increase their AI investments, according to a recent Gartner poll.
  • 30% of CEOs own AI initiatives in their organizations and regularly redefine resources, reporting structures and systems to ensure success.
  • Chatbots are projected to see over a 100% increase in their adoption rates in the next two to five years and are the leading AI use cases in enterprises today.”

https://www.google.com/amp/s/www.forbes.com/sites/louiscolumbus/2020/10/04/whats-new-in-gartners-hype-cycle-for-ai-2020/amp/