The words “fintech” and “artificial intelligence” have been Silicon Valley buzzwords that are thrown around casually in conversations at the local Starbucks for the past few years. But, these two, seemingly high level words that about 1% of the population truly understand, are beginning to merge together. Artificial Intelligence (AI) is becoming the future of banking.<\/p>\n
AI is just starting to be utilized by banking companies around the US with uses such as compliance and anti-money laundering with an emphasis on employee misconduct detection. According to Henri Arslanian, The major appeal of this new integration was cost reduction and compliance, AI is “replacing human fund managers\/traders”. However, it is quickly over taking other aspects of banking as well. HDFC bank has been experimenting with “conversational banking”, where they use AI to interface with the consumers through chat boxes. With AI becoming more and more utilized everyday, what comes into play is the age old idea of technology vs employee.<\/p>\n
The idea of human clashing with technology is not a new one, but unlike the plethora of movies that describes the AI takeover, this is happening in real time. No, no, no, we are not going to be taken over the AI robot overlords… yet, you can remain calmly seated. We are in the age of technology that can essentially make the everyday employee obsolete. In today’s day and age, in this particular political climate, it is easy to see everyone’s concerns about job security. The real question is where to draw the line between technological advances and the very real human employees. This is something that AI and the banking industry will be testing out these next few years.<\/p>\n
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Source:\u00a0https:\/\/letstalkpayments.com\/ai-most-defining-technology-banking-industry\/?utm_medium=email&utm_source=fintechweeklycom<\/p>\n","protected":false},"excerpt":{"rendered":"
The words “fintech” and “artificial intelligence” have been Silicon Valley buzzwords that are thrown around casually in conversations at the local Starbucks for the past few years. But, these two, seemingly high level words that about 1% of the population truly understand, are beginning to merge together. Artificial Intelligence (AI) is becoming the future of … Continue reading AI: The Future of Banking<\/span><\/a><\/p>\n","protected":false},"author":1832,"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-852","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":2,"qubely_featured_image_url":null,"qubely_author":{"display_name":"tpta","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/tpta\/"},"qubely_comment":2,"qubely_category":"Uncategorized<\/a>","qubely_excerpt":"The words “fintech” and “artificial intelligence” have been Silicon Valley buzzwords that are thrown around casually in conversations at the local Starbucks for the past few years. But, these two, seemingly high level words that about 1% of the population truly understand, are beginning to merge together. Artificial Intelligence (AI) is becoming the future of…","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/852","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\/1832"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=852"}],"version-history":[{"count":1,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/852\/revisions"}],"predecessor-version":[{"id":856,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/852\/revisions\/856"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}