The history of applying Artificial intelligence(AI) to banks goes back to the 50s. The benefits of AI in banking includes enhanced customer personalization, productivity gains, fraud detection, and better customer recommendations. One very exciting example of applying AI to banks is from a start-up company named Finie (for financial genie). They created a voice-powered AI platform to interact with a banking account using natural language queries. Finie can be asked, \u201cHow much did I spend on groceries\u201d, instead of providing list of transactions.
\nNowadays, AI is increasingly important for financial service firms to be competitive. In the near future, more financial service firms will adopt AI to deliver better experiences, lower costs, reduce risks and increase revenues.<\/p>\n
During the most recent World Economic Forum Annual Meeting at Davos, Switzerland, Kaifu Li (an American venture capitalist, technology executive and computer scientist) commented that as the Chinese markets continue to accumulate more data, there will be more opportunities for AI technology, especially when it comes to credit card fraud detection, more and more Chinese banks will adopt AI. Embracing AI to banks is a win-win situation for both banks and tech companies.<\/p>\n
<\/p>\n
https:\/\/thefinancialbrand.com\/63322\/artificial-intelligence-ai-banking-big-data\/?utm_medium=email&utm_source=fintechweeklycom<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The history of applying Artificial intelligence(AI) to banks goes back to the 50s. The benefits of AI in banking includes enhanced customer personalization, productivity gains, fraud detection, and better customer recommendations. One very exciting example of applying AI to banks is from a start-up company named Finie (for financial genie). They created a voice-powered AI … Continue reading The future of AI in banking<\/span><\/a><\/p>\n","protected":false},"author":1813,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-261","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":3,"qubely_featured_image_url":null,"qubely_author":{"display_name":"ysong2","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/ysong2\/"},"qubely_comment":3,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"The history of applying Artificial intelligence(AI) to banks goes back to the 50s. The benefits of AI in banking includes enhanced customer personalization, productivity gains, fraud detection, and better customer recommendations. One very exciting example of applying AI to banks is from a start-up company named Finie (for financial genie). They created a voice-powered AI…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/261","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1813"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=261"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/261\/revisions"}],"predecessor-version":[{"id":262,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/261\/revisions\/262"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}