The banking industry has always been at the forefront of adopting new technologies to improve its efficiency, effectiveness, and customer experience. In recent years, Artificial Intelligence (AI) has emerged as a game-changer in the banking sector, transforming various aspects of banking operations, from customer service to risk management, and driving significant changes in the way banks conduct their business.
AI, a subset of computer science that enables machines to mimic human intelligence and perform tasks that typically require human intelligence, has gained immense popularity in the banking industry due to its ability to analyze vast amounts of data quickly, identify patterns and trends, and make predictions or decisions based on data-driven insights. Here are some of the ways in which AI is revolutionizing the banking industry.