How UK banks are looking to use AI and machine learning

UK banks are looking at the cutting edge technology for everything from detecting fraud to building chatbots

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The major UK banks are eyeing artificial intelligence (AI) technology to help them use the huge volumes of data they have on hand to improve compliance, increase customer engagement and improve operational efficiency.

Whether this truly benefits the customer more or the banks themselves is up for debate, and up to regulators to try and police. Still, applications of machine learning techniques to banks rich data sets can help fight fraud, save time and money for customers and automate back-office functions.

So, just how are the major banks looking to use the cutting edge AI and machine learning technologies? Here are just a few examples.