Banks Eager For Artificial Intelligence, But Slow To Adopt

Why are banks - who are typically the most capable and tech-intensive players in the business world - struggling so much with AI?

To be fair, banks have employed AI - at least in rudimentary forms - for decades. Computer automation has been used by the financial industry for back office and customer-facing operations since the 1960s. AI investments picked up in the 1980s in the form of expert systems. Despite this strong IT heritage, many banks lack the agility to fundamentally transform their business with modern artificial intelligence. 


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