Lack of understanding remains a key hurdle for adopting traditional and generative artificial intelligence-powered tools, but banks and credit unions are still eager to use AI, according to data from Arizent.

False information, job losses, diminishing skills and human interaction, among other concerns, have bankers worried about deploying both generative artificial intelligence, like ChatGPT, and more long-accepted forms of AI like machine learning, according to a new survey of American Banker readers.

As the use of internet of things (IoT) devices and artificial intelligence grow in popularity, their adoption is creating real risks for end users and insurers alike. As bad actors use it to perpetrate new kinds of fraud, carriers can also utilize it to identify these risks and fraudulent claims more quickly.

Like many of its peers, the bank is evolving its virtual assistant to be more personalized and to incorporate a large language model, but it's not quite ready to turn on customer-facing generative AI.

The New York bank has deployed generative artificial intelligence from Greenlite to help analysts do enhanced due diligence on clients with higher risk ratings.

In this month's roundup of top tech news: Bank of America's data breach affects more than 57,000 consumers, banking as a service's looming reckoning, the downfall of Heartland Tri-State Bank and more.

Luis Valdich, managing director of Citi Ventures, and Alex Sion, managing director of private equity firm Motive Partners, explain how they envision advanced AI changing work in financial services.

A consortium of banks focused on cybersecurity has published a series of white papers aimed at navigating the challenges and opportunities of AI in the financial sector.