Artificial intelligence (AI) will empower banking organisations to completely redefine how they operate,
establish innovative products & services, and most importantly affect customer experience interventions.
In this second machine age, banks will find themselves competing with upstart fintech firms leveraging advanced technologies that augment or even replace human workers with sophisticated algorithms.
To maintain a sharp competitive edge, banking corporations will need to embrace AI and weave it into their business strategy.
AI ecosystems in the banking industry- is fast becoming a major disrupter by looking at some of the critical unsolved problems in this area of business. AI’s potential can be looked at through multiple lenses in this sector, particularly its implications and applications across the operating landscape of banking.
Focus on key artifiicial intelligence technology systems:
robotics, computer vision, language, virtual agents, and machine learning (including deep learning) that underlines many recent advances made in this sector.
Banks entering the intelligence age are under intense pressure on multiple fronts. Rapid advances in AI are coming at a time of widespread technological and digital disruption. To manage this impact, many changes are being triggered.
Israeli technological advances in fields such as big data analytics, artificial intelligence, blockchain and computer vision.
Israeli regulators – mainly the Bank of Israel progress is key to maintaining an efficient, consumer-friendly market and have worked on solutions for Banking.