The head of data and digital at Ally Bank came up with protective measures governing the use of generative AI and organized "AI Days" for employees to learn about Ally's progress.

The two financial institutions are testing a combination of machine learning and blockchain to catch errors and block fraud on international transactions.

The chief growth officer at Pagaya is one of American Banker's 2024 Most Influential Women in Fintech.

The chief information, data and digital officer at Ally Financial is one of American Banker's 2024 Innovators of the Year.

Zest AI more than doubled its customer base in 2023 and increased its customer base more than 50% yearly over the past four years.

The bank's director of AI transformation is one of American Banker's 2024 Innovators of the Year.

The regulator's education arm compared consumers' reactions to financial information after being told it was generated by AI versus a human.

All cultures have explicit and implicit biases. Preventing discrimination when large language models are involved starts with using high-quality human-curated data and text.

AI tools, such as large language models, offer the promise of increased efficiency; but they also carry with them potential legal and regulatory risks. Financial service providers will need to find a way to strike the right balance as technological advancements continue to emerge.