For all the recognition artificial intelligence has enjoyed in the banking community, it hasn’t yet found a nearly equal level of adoption. With all the questions, misconceptions and curiosity surrounding this game-changing technology, Jim Marous, the publisher of Digital Banking Report, shares some of the latest findings by way of his newly published report.
From the podcast:
Lou:
Now what are some AI solutions that financial services organizations are looking at more closely or perhaps should be looking at most closely?
Jim Marous:
When we asked organizations how important are the following AI solutions over the next 18 months, we found the number one answer by far was fraud and security. A full 40% found fraud and security to be extremely important among those organizations that have implemented at least one AI solution. So overall we did not include those organizations that said there was really no way that they would implement something.
In addition, there were another 28% that said biometrics. So, biometrics were the third most mentioned solution. Now, what’s interesting also is that the second and fourth ones are personalization and recommendations referenced by a little less than 30 percent of the organizations and chatbots, measured by about a fifth of the organizations.
So what we see is there’s a real coming together of solutions around fraud and security and better customer experience.
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