“Automation will displace 200,000 jobs in the banking industry in the next 10 years, according to Wells Fargo. “The next decade should be the biggest decade for banks in technology in history. You’re about to see the biggest capital for labor swap in history,” Wells Fargo analyst Mike Mayo told Yahoo Finance.” https://www.google.com/amp/s/www.morningbrew.com/emerging-tech/stories/2019/10/04/wells-fargo-robots-will-displace-200000-banking-jobs-next-decade.amp
Tag: Wells Fargo
How Wells Fargo Uses AI, Biometrics To Fight Money Laundering
“Chuck Monroe, head of AI enterprise solutions for Wells Fargo. “We’re using AI to go through and look across the internet, including the deep dark web, [for] signals that would apply to a particular AML situation,” Monroe said in a recent interview with PYMNTS. “There are lots of opportunities in the AML space to leverage…
How Wells Fargo Uses AI, Biometrics To Fight Money Laundering
“’The fact that [customers are] connected to the internet of things opens the door to the broader spectrum of payment activity. That allows us to do is to build deeper profiles, [which AI can use] to better predict if [a transaction] is something [the customer] would do,’ Monroe said. This influx of new data means…
AI in Banking – An Analysis of America’s 7 Top Banks
“The seven leading U.S. commercial banks have prioritized strategic technological advancement with investments in AI applications to better service their customers, improve performance and increase revenue. The future of finance will be heavily influenced by emerging fintech and AI applications setting the stage for increasing competitiveness among the industry’s leading giants. From our analysis of the…