WaFd Bank is using conversational artificial intelligence to make the contact center and online chat experience smoother for both customers and agents.

The bank will apply the company's AI first to its risk models, an HR avatar and a metaverse presence.

It's only been two months since the Biden administration posted its blueprint for an AI Bill of Rights, but government agencies are starting to apply it in areas of financial services where discrimination is a concern, according to speakers at a Brookings Institution event.

The fintech plans to use the capital to scale its platform, which uses machine learning to make loan decisions, with a goal of reducing bias in underwriting.

The bank is adding forecasting to its Intelligent Receivables product, which uses artificial intelligence to match business customers' incoming cash to open invoices.

The bank is using Google Assistant technology to power its virtual assistant, Fargo, according to Michelle Moore, head of digital at Wells.

The Biden administration is setting the tone for new rules governing businesses' use of artificial intelligence, including in lending. Some call it a "toothless tiger," while others worry that it goes too far.

Onuu uses artificial intelligence to help its customers with budgeting.

The Office of the Comptroller of the Currency has stopped requiring the bank to provide quarterly progress reports about its efforts to mitigate cloud computing risks.

Singapore country head Shee Tse Koon describes the bank's push to create a massive marketplace that offers everything from hotel reservations to health care.

Their chatbots are diverting calls away from call centers and helping bring in deposits, the banks say, as the adoption, maturity and usefulness of the technology improve. 

Banks that need to fill large volumes of jobs increasingly let AI decide who’s in and who’s out, based on analysis of digital resumes and video interviews. Algorithms can take a more inclusive and less biased view of candidates, but experts say there are several things to watch out for.

The path to artificial intelligence implementation can be costly and arduous. Are financial leaders reaping the benefits?

Just as advances in automobile technology have made driving safer, incorporating AI into decision-making reduces financial risks.

By taking the manual labor out of data management and upkeep, experts can reach new clients and better serve their existing ones.

Agencies supervising lenders should make it clear that the transition to less discriminatory algorithms won’t be used to punish banks for their previous use of older, less effective systems.

Banks and fintechs wonder if regulators are getting more comfortable with machine learning-based ways of assessing credit, or if agency oversight will mean a crackdown.