Cognitive computing

The bank is testing the emerging technology with IBM in an effort to speed up risk analysis and derivatives pricing.

Short of replacing member service representatives with robots, artificial intelligence has the capacity to help credit unions make better lending decisions that can improve business.

Banks must remain accountable for their use of artificial intelligence by continuing to employ a level of human oversight.

There are a number of actions financial institutions should take to improve their application of machine learning and data analytics technologies.

In a bid to help younger consumers, CommunityAmerica Credit Union’s new FAFSA chatbot can answer more than 400 questions about applying for federal student aid.

A recent editing snafu illustrates an important lesson for credit unions using AI and machine learning.

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

There’s a lot of hype surrounding up-and-coming regulatory technologies, including the use of AI and robotics, but banks will have to be patient to see big returns on those investments.

It also plans to deploy the startup’s technology that analyzes data and offers predictive advice.