Investment

A new survey found artificial intelligence was a top compliance-related priority for 85% of firms responding, while cybersecurity was only a concern for 37%.

Digital lender Chime and Visa this week became the latest firms to cite AI as part of a downsizing. While bots usually aren't directly replacing workers, machine learning changes customer access to financial products in a way that's increasingly making some work less necessary.

In a new paradigm of anti-money-laundering compliance, success increasingly depends not on obtaining information faster, but on recognizing when machine-generated intelligence should not be trusted.

Prashant Mehrotra says he runs AI use case ideas through a disciplined framework before proceeding.

Banks, fintechs and card networks are vying for a share of revenue from the new form of artificial intelligence. Mastercard CEO Michael Miebach contends his firm has the tools in place and a product pipeline to take advantage.

Community banks have long been reliant on — and constrained by — a handful of core-banking technology vendors. But enterprise artificial intelligence licenses offer the chance to transcend those limitations.

As consumers get more comfortable with the technology, they will want multiple checkout options beyond cards, creating a need for more digital wallets and account-to-account rails.

The technology giant's patents, which were built for banks and credit unions, will enhance the USDC issuer's intellectual property as more banks enter the stablecoin market.

Rather than replacing bankers, artificial intelligence is likely to amplify their impact: strengths as well as weaknesses. This makes investing in employee development more important than ever.