AI in Banking: Beyond the Bots

– “80% of financial institutions are “highly aware” of the benefits of AI and machine learning.

– 75% of banks with more than $100 billion in assets are currently implementing AI.

– 46% of FIs with less than $100 billion in assets are currently implementing AI.

– By 2023, FIs are projected to save $447 billion by using AI, the majority of that being derived from customer-facing apps like chatbots, and back-office uses like anti-fraud and risk applications.

81% of IT executives in banking agree that ‘unlocking value from AI will distinguish winners from losers.’

– 85% have a clear strategy for adopting AI in the development of new products and services

– 78% say that using AI will help them achieve their business goals and priorities, with 46% of those saying ‘to a great extent.’”

The big three innovations transforming cloud security

“Secure Access Service Edge is a term coined by Gartner in 2019, defined as the convergence of multiple network and security-as-a-service capabilities, such as software-defined wide-area networks, secure web gateways, CASB, next-generation firewalls and zero-trust network access. SASE is delivered as a service and enables zero-trust access based on the identity of the device or entity, combined with real-time context and security and compliance policies.”

How AI, ML, and automation can improve cybersecurity protection

    • “Artificial intelligence (AI) and machine learning (ML) are making productive inroads in the cybersecurity space.
    • AI and ML can help by processing and analyzing massive amounts of data to spot unusual trends, behavior, and patterns in what is known as anomaly or fraud detection. It’s an essential tool to help stop crime in the world of finance.”

    Smart Living: Here’s How IoT and AI are Set to Revolutionize the Way We Live and Work

    “Smart Homes were in the past viewed as a luxury, with their primary purpose being to serve as a show piece for the owners. This reality has changed substantially, both because of the development of newer technologies like Internet of Things (IoT) and Artificial Intelligence (AI), and also because of simultaneously occurring social changes that are occurring in our everyday lives.”