The artificial intelligence revolution has arrived. NYC's CTO, Matthew Fraser, tells American Banker's Executive Editor of Technology, Penny Crosman, how new technology is shaping policy in America's largest city.

It's still too soon to say exactly how the use of advanced artificial intelligence will be restricted in financial services, but banks are developing strategies mindful of potential policies.

Bank executives at the Sibos conference this week discussed how they are using predictive analytics and other technologies, and the fintech partnerships that move them forward.

The payment company is using a new OpenAI tool to expand its shopping and customer service technology.

The Consumer Financial Protection Bureau issued guidance on the use of artificial intelligence in credit underwriting, saying that creditors are relying too heavily on a CFPB checklist and sample forms when they should provide specificity to explain why a consumer is denied credit.

A new model rates large banks on their efforts to develop and deploy artificial intelligence technology. 

Executives at Citizens Financial Group and community banks such as Seattle Bank and Citizens Bank of Edmond say there are potential use cases for large language models. Yet they have concerns that impersonal service and likely errors could erode customers' faith in their financial institutions.

The FBI, NSA and CISA highlighted the emerging dangers of AI-powered deepfakes in phishing campaigns and cataloged protections companies can deploy.

The bank is testing artificial intelligence tools that aim to detect possible signs of misconduct from the tone of traders' phone conversations.

Securities and Exchange Commission Chairman Gary Gensler told lawmakers that artificial intelligence could be used to game securities transactions in favor of corporate interests over those of investors. Critics say the SEC's plan to combat such conflicts of interest is hostile to technology.