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Banks bet on AI to deliver digital efficiencies

CIO

In the face of shrinking budgets and rising customer expectations, banks are increasingly relying on AI, according to a recent study by consulting firm Publicis Sapiens. Around 42% percent of banks rely on personalized customer journeys to improve the customer experience.

Banking 530
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Should finance organizations bank on Generative AI?

CIO

As I work with financial services and banking organizations around the world, one thing is clear: AI and generative AI are hot topics of conversation. In the finance and banking industry, however, organizations are seeking extra guidance on the best way forward. In short, yes. But it’s an evolution. Financial assistant. Automation.

Finance 501
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Are enterprises ready to adopt AI at scale?

CIO

AI’s ability to automate repetitive tasks leads to significant time savings on processes related to content creation, data analysis, and customer experience, freeing employees to work on more complex, creative issues. In fact, a recent Cloudera survey found that 88% of IT leaders said their organization is currently using AI in some way.

Banking 524
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7 types of tech debt that could cripple your business

CIO

Incident response: Firefighting daily issues, responding to major incidents, or performing root cause analysis prevents database administrators from performing more proactive tasks. Lanzani shares an example of a banks customer-facing chatbot. Security debt can accumulate when these risks are not adequately addressed.

Business 525
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Will AI Developments Help Open Banking Take Off?

Smart Data Collective

Artificial intelligence has become a gamechanger in the banking industry in recent years. There are a number of reasons that AI is becoming an integral part of the banking industry. AI has made open banking possible. New advances in AI could help open banking become even more popular in the near future.

Banking 340
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AI-Based Banking Loan Software Will Become Norm In 2022

Smart Data Collective

The banking industry is among them. Banks have been slower to adapt AI technology than some other institutions. However, the market for AI in banking is expected to grow over 30% a year and will be worth over $64 billion by 2030. New software uses AI to manage bank loans. AI Makes Bank Lending Software Far More Reliable.

Banking 345
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4 of the Biggest Data Breaches in Banking

Smart Data Collective

Sadly, they often affect banks. Banking is an important sector of the world. This article discusses four of the most significant data breaches in banking…. We put a considerable amount of trust in our banks. We expect banks to fulfil their duty and provide protection. Tesco Bank. Tesco Bank was fined £16.4

Banking 328