Artificial intelligence (AI) is increasingly gaining ground in a number of areas of banking and financial services. It’s deployed to identify fraud, make trading decisions, recommend banking and financial products, and evaluate loan applications. This helps to reduce the costs of financial products and improve their efficiency and efficacy. However, there is growing evidence that AI systems are biased. Join American Banker’s Executive Technology Editor, Penny Crosman as she explores key AI-bias issues for the banking and financial services industry with Sonja Kelly, Director of Research and Advocacy at Women’s World Banking and Wisam Dakka, Co-Founder of Meemo.

Ally, Huntington, KeyBank and others are reimagining automated savings tools challenger banks have made popular.

The technology excels at spotting money laundering and suspicious transactions, but it still can't be trusted to help bank customers make big decisions, such as what to do with retirement savings.

The federal banking and credit union agencies want input about how financial institutions use artificial intelligence for credit underwriting and other purposes, and about whether additional regulatory guidance is needed.

Payments technology has advanced quickly in the past decade because newcomers in the industry have operated fully, or at least partially, in the cloud.

Unlike most IT investments that become obsolete in a few years, AI's ability to "learn" makes it increasingly more valuable, says Silent Eight's John O'Neill.

The London bank is trying out new models that help it assess the creditworthiness of recent college graduates, and layering on software that analyzes the fairness of its credit decisions.

The AskResearch virtual assistant helps the company's employees quickly find specific information buried in proprietary research to facilitate their work with clients. It's a creative solution to data-retrieval problems many banking companies face.

The card network is testing two artificial intelligence-powered programs that it says give banks some of the benefits of faster payments without requiring the immediate movement of funds.