The bank's chief technology officer is testing several ideas for using advanced AI to improve processes and customer experience.

As banks and merchants gear up for instant settlement, the merchant acquirer is using artificial intelligence to sharpen the accuracy of its fraud detection.

Bank loyalty platform provider Wildfire Systems unveils a tool that could enable banks to earn revenue from merchants when customers click on personalized offers embedded in content via generative AI.

The managing director of Arjuna Capital led a successful shareholder activist campaign in 2018 that led to dozens of large companies reporting their true gender pay gap numbers. Now she is pursuing companies who are moving too fast with advanced AI.

In a data breach at OpenAI, some ChatGPT users were able to see other users' financial data. In other cases, users have invoked their dead grandmothers to access information that should have been sealed off.

Such concerns have taken on new importance with recent advances in artificial intelligence tools, which are "the most transformative technology of our time," Securities and Exchange Commission Chair Gary Gensler says.

The Charlotte bank plans to use quantum computing to stiffen cybersecurity, run more advanced AI applications and create new commercial use cases alongside IBM engineers.

Twenty lenders from across the country are participating in Underwriting for Racial Justice, a collaborative effort to develop new criteria that will enable marginalized borrowers to gain access to credit.

Some of the biggest names in banking have started using large language models to organize their institutional knowledge, but use cases like chatbots remain experimental.

AI and machine learning are the future of banking and financial services. Regulators and policymakers need to keep the pace.