Investment

Banks have embraced artificial intelligence for years. Now, after a week of dire warnings about the technology's risks, executives at two big banks are calling for caution and calm.

Recent analyses found non-malicious AI agents can "think," emote and launch attacks unprompted. There are several things banks should do to protect themselves.

Banks are racing to adopt artificial intelligence while often de-emphasizing basic banking education — human intelligence — at the new employee, executive, and board levels. That's a recipe for disaster.

Research from Cerulli Associates suggests that many RIAs have a long way to go with AI adoption while already finding possible ramifications for back-office staff.

Regulators want firms to spot where several critical functions ride on one provider, a question the department's earlier vendor guidance did not ask.

North Carolina-based First Citizens BancShares completes its acquisition of 138 branches across 11 states; City National Bank appoints Chad Lloyd senior vice president and head of RBC U.S. Mortgage; London-based payments processor Checkout.com launches its U.S. subsidiary in Georgia; and more in this week's banking news roundup.

As advisors rush to build their own AI tools, experts warn that guardrails need to cover data going in, not just data going out.

Artificial intelligence tools will certainly change the way the banking industry operates, but they won't eliminate the need to build your business on a firm foundation of care for employees, customers and shareholders.

The AI company has debuted ChatGPT for Financial Services, an enterprise tool that may threaten the role of junior analysts at investment banks.