Artificial intelligence
Honorees on this year's list of the Most Powerful Women in credit unions have adopted tools powered by AI to help provide 24/7 support to members in a variety of languages, while also expanding access to vital capital for those from underserved communities.
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New iterations of tools powered by advanced artificial intelligence will aid banks in generating new value for customers, but the lack of regulatory guidance in this area hinders deeper adoption of the technology, panelists and attendees said at The Clearing House's recent conference.
November 21 -
Fraudsters are likely to increase their use of generative artificial intelligence to attack banks and other payment companies. Investors are using their own influence to fight back.
November 16
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AB - TechnologyIn tests run by Corporate Insight, generative AI-based bots like OpenAI's ChatGPT and Google's Bard generally answer questions better than banks' virtual assistants do.
November 9 -
Companies such as Visa and Mastercard, as well as banks and retailers, are stepping up their investments in artificial intelligence to reach small businesses and spot new uses.
November 3 -
AB - TechnologyPresident Biden has directed government agencies to develop new rules on protecting privacy and security, preventing intellectual property theft, reducing bias and more in banks' use of artificial intelligence models.
October 31 -
President Joe Biden's executive order tackling artificial intelligence could reprioritize the Consumer Financial Protection Bureau's work in fair lending on artificial intelligence algorithms.
October 30 -
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.
October 27 -
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.
October 25 -
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.
October 19
