5. Artificial Intelligence and Machine Learning
From risk assessment, to smart product sales and chatbots: artificial intelligence and machine learning already are (or should be) at the core of any bank’s innovation roadmap.
Startups across the board have demonstrated what AI can do for FIs of the future: Just check out this lineup of startups from last year’s BBVA Open Talent Challenge.
Chatbots and virtual assistants are getting smarter by day, and while some banks choose to partner in order to deploy the tech, others, like Bank of America with “Erica”, choose to develop their own bots. With Facebook opening up its developer platform for chatbot builders, the timing couldn’t be better to do some in-house AI work.
In short, FIs, maybe gear up with some AI engineers and developers.