How UK banks are looking to use AI and machine learning
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. Just last week the father of the internet Tim Berners-Lee warned against the possibility of AI systems becoming embedded into the financial world, and what that could mean for the fairness of the system. You can read more of his thoughts on the subject here.
So just how are the major banks looking to use the cutting edge AI and machine learning technologies? Here are just a few examples.