Bankers show a lot of interest in advanced AI, as well as a daunting list of challenges, according to American Banker's innovation readiness survey.

Large language models were a big part of the discussion during the company's earnings call on Thursday.

The Financial Conduct Authority has assembled a team of over 500 technologists as it weighs whether to adopt generative artificial intelligence to help examiners collect and synthesize data on billions of card transactions as part of its monitoring of the U.K.'s top banks.

In the company's third-quarter earnings call, Krishna emphasized new and existing AI models banks and others could use to help developers, customer service people and workers in general become more efficient.

As financial institutions increasingly rely on artificial intelligence for anti-money-laundering and fraud detection, they face challenges in meeting regulators' demands for complete transparency and documentation.

After scrambling to launch bots in the early pandemic, banks including Fifth Third and KeyBank are taking the time to thoughtfully design intelligent digital assistants with better navigation and seamless handoffs to human agents.

There are good reasons to be skeptical in the face of predictions of a revolution in banking led by generative artificial intelligence.

How to use, govern and adopt AI were some of the main themes from the Monday event.

On JPMorgan Chase's third-quarter earnings call, CEO Jamie Dimon debated with Wells Fargo Securities analyst Mike Mayo over whether recent advances in AI present an advantage to traditional banks or to their challengers.

The fintech Brex is among a growing market of companies using generative artificial intelligence to simplify how employee trips are managed.

A recent survey of financial institutions found that for smaller banks and credit unions, customer experience is once again a top priority and among all banks, the interest in advanced AI is higher than ever.

The fintech, a partner of OpenAI, is also a provider to several developers of emerging artificial intelligence.

U.S. Bancorp and Truist picked literal names for their virtual assistants to avoid confusing customers, while Fifth Third and Regions created characters called "Jeanie" and "Reggie" to put clients at ease. Other companies are trying to split the difference.

The payments company launched a $100 million fund for generative AI, creating a potential group of partners that can build on the card network's global scale.

Financial institutions must adopt a tech mindset that aligns with – and promotes – broader enterprise goals.

The card network has teamed with Rochester Institute of Technology's Dubai satellite to foster local AI talent, and has several other AI efforts underway.