Financial institutions that are leaders in the use of data and AI are quickly differentiating themselves in a marketplace that puts a premium on data-backed decisions and intelligent interactions.
AI brings the potential for disruption and transformation due to its ability to make decisions and take action much quicker than its human counterparts. It has been seen as a means of increasing productivity within a company and improving revenues through better customer engagements.
But the use of AI is not without pitfalls, risks and detractors. Will AI discriminate between classes of people? Will AI be used for good or just corporate greed? How should the use of AI be regulated?
To discuss the opportunities and challenges of AI in banking, we interviewed Dan Faggella, founder and CEO of the artificial intelligence research agency, Emerj. Dan is a globally recognized speaker on the use-cases of artificial intelligence in business, and has presented to the World Bank, the United Nations, INTERPOL, and global banking companies.