AI and the future and banking
0 viewsAbstract
Artificial Intelligence (AI) is increasingly gaining relevance within the banking sector and is influencing the way banks deliver their services, mitigate risks and communicate with their clients. This paper aims at analyzing the emergence of Artificial Intelligence in the banking sector and the potential implications of its influence for the future of the sector. Customer care, fraud detection, loan issuing, payment processing, risk management and personalized banking services are some of the topics covered by this paper. Moreover, the main challenges posed by AI are also considered here, such as cybersecurity, privacy issues, opacity and technology dependence. In general terms, AI is expected to contribute to making banking more efficient, fast and personalized, but banks will need controls and supervision as well.
Keywords
Artificial Intelligence, Banking Sector, Credit-Risk Assessment, Customer Service Automation, Cybersecurity, Financial Technology, Fraud Detection, Personalized Banking, Regulatory Compliance, Risk Management