Financial services companies are still in the early days of utilizing artificial intelligence, meaning they must closely examine any partnership with a third party. This includes demanding evidence to back up any performance claims these outside companies make.

With the growing interest in generative AI, it seems inevitable that some banking jobs will change while others will be eliminated entirely.

As regulators repeatedly press banks and fintechs to make sure their artificial intelligence models aren't "black boxes" and comply with existing law, the burden is on lenders to prove they are making such efforts.

As new CEO Alex Chriss streamlines the payment company's strategy, 2024's first major product rollout stresses data-driven, personalized connections between merchants and consumers.

Mike Abbott, global banking lead at Accenture, shared where he sees banks using the technology most effectively in the year ahead.

Bank regulators Friday said the existing laws governing safety and soundness and fair lending are adequate to address risks posed by artificial intelligence, noting that while AI may be used to inform lending decisions, banks are ultimately responsible for compliance.

Companies like NCR Voyix, Salesforce and Sainsbury's are keen to deploy technology that used to be science fiction — such as scanning a shopper's eyes to access their accounts, or using AI to streamline checkout.

Gary Gensler, chair of the Securities and Exchange Commission, said that any company going public had to be "full, fair and truthful" in their disclosures about their artificial intelligence's true capabilities.

The retail giants are testing the limits of what customers will allow a generative AI system to do before making a payment.

Mike Abbott, global banking lead at Accenture, shared some of his predictions and opinions for the year ahead.

When the e-commerce giant designs and revises new store models like Just Walk Out, it faces a challenge: How do you train technology that requires real-world data that doesn't yet exist?

Companies such as SeatGeek, a ticketing provider that requires its employees to do a lot of travel, find that artificial intelligence can help manage a large amount of data tied to travel and expenses.

The custody bank is managing expectations about its 2024 performance while assuring investors that profits will improve significantly in the medium term. AI is one path it's pursuing.

Led by Congressmen French Hill and Stephen F. Lynch, the council will explore how artificial intelligence is influencing the development of new products and services, fraud prevention and other areas across the financial services and housing industries.

The card network is creating a generative AI-powered chatbot to give small-business owners personalized assistance, emphasizing 'inclusive' resources and mentorship for minority entrepreneurs.

The anti-money-laundering systems that are automatically kicking customers out of their accounts need to be tempered with rich customer data, human involvement and perhaps quick requests for information from customers.

Users of large language models and generative artificial intelligence need to be aware of the content and data those models are trained on, and be wary of potential infringement of copyright law.