Smart Banks

It is common knowledge that AI is the way of the future. With it bring a lot of questions. If robots and machines are doing all the work than what will the worlds economy and human workforce look like? What will the unemployment rate look like? How will robots fit into the society? The thought brings a lot of controversy and even scares some people who think robots will take over the world.

AI is far from taking our jobs and even if it did the world of AI running most things will need us to run the back end and create lots of jobs in the tech industry. On top of that robots and artificial intelligence are far from replicating the ability that humans have to communicate and detect emotions in others. Therefore, creating a lot of importunity in the care industry. 

There have been recent reports and studies showing the opportunities for AI in the financial services sector. The application of smart technologies in the financial services industry could save billions of dollars. Just how many you ask. Try $450 billion over the next 4 years. That is no joke and has caught the attention of the banks. 

Four fifths of banks are very seriously looking into the implementation of smart tech. And three fourths of banks with over $100 billion in assets are already testing new solutions. 

AI can be used to insure that there is streamlined customer service all the time. But this is far from the limit of what can and will be effected. The front off can use biometric tech along with personalized insights. Anti-fraud and risk managment is looking forward to smart tech that can fight money laundering. Credit underwriting processes can all be drastically improved with smart contracts.