Machine learning

Bank executives say artificial intelligence will create jobs, while analysts say the opposite. Employees are anxious but willing to try to work with it. All agree AI is already making an impact.

A multilayered approach that allows one type of fraud tool to pick up the slack when another layer fails, according to Robert Capps, a vice president at NuData Security.

Manuela Veloso, head of the machine learning department at Carnegie Mellon University, will join the bank in July.

AI in a car can be fatal. What could go wrong with AI in a bank? A new council established by BofA and Harvard hopes to minimize unintended consequences that could jeopardize consumers' financial well-being or discriminate against them.

While the banking industry is divided on the use of conversational technology, the San Francisco company believes chatbots can make it easier for customers to discuss their finances.

Voice authentication software has improved call center service at Virginia Credit Union and shortened call times by nearly 25 percent.

HSBC is letting artificial intelligence software predict the types of reward offers card customers prefer. It's driving up response rates in marketing tests, but the process raises privacy and other issues.

Artificial intelligence is expected to bring financial services to millions, yet it could also make unethical decisions that unfairly deny credit and widen the divide between haves and have-nots, says Nicolas Economou of the nonprofit Future Society.

In a move rare for the industry, the bank bought a team of data scientists to bolster its artificial intelligence efforts in areas including product recommendations and fraud prevention.

Banks are increasingly investing in technology that will enable them to deliver highly personal and customized communications with customers.