Artificial Intelligence (AI) and related technologies are fast making inroads into the financial services industry. Operating in an interconnected, digital world in which money moves instantly, and faced with increasignly stringent regulations, financial institutions are turning to AI to help transform their operations. According to Forbes, organisations invest in AI development to meet one of three objectives:
– Build systems that think exactly like humans do;
– Get systems to work without figuring out how human reasoning works: or
– Use human resources as a model but not necessarily the end goal.