Artificial intelligence (AI) is used in every industry and in more homes by the day. While technology giants tend to get all the limelight, banking and other financial sectors are showing signs of interest and adoption of AI. This interesting information came to us from The Paypers in their article, “2018 predictions: Artificial Intelligence for banks.”

AI and digital labor cover a range of emerging technologies being used across the financial services industry. This includes robotic and intelligent process automation. Even with these recent advancements, remember that technology should solve real business problems and not just be the new shiny toy.

The term AI is used to describe anything from automating simple tasks to handling complex thinking assignments. In 2018, firms will likely move toward more advanced augmented intelligence, with tools that help humans make decisions and learn from the interactions. Firms can also look to AI as a way to customize product design and develop predictive analytics to improve outcomes such as reduced accident rates.

Melody K. Smith

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