5 MUST READS: Why 2018 Will Be Your Year for AI

December 8, 2017 CO-OP Financial Services

Artificial intelligence isn’t just for science fiction anymore. In fact, credit unions and other financial institutions may be integrating AI into their customer experience, decision-making, fraud detection and customer service operations in the immediate future. Are you ready to embrace this brave new world?

 

Why 2018 Is the Year of AI for Financial Institutions

Payments Journal

Ready or not, artificial intelligence is here. CO-OP’s President/CEO Todd Clark points to four areas of opportunity in AI that could reshape your credit union in the year to come. “Even for small financial institutions, the time is now to start learning about AI possibilities,” he says.

 

Five Fundamental Building Blocks for AI in Banking

The Financial Brand

To find success with artificial intelligence, banks and credit unions will need to cultivate new capabilities — from machine learning to natural language processing. Yet, many enterprises are unclear about what constitutes AI, where it can be applied, and how to prioritize its use cases within the organization.

 

What U.S. Financial Institutions Can Learn from Global AI Experiments

American Banker

Bank of America, Wells Fargo and Capital One Financial are currently working on artificial-intelligence-based virtual assistants, but in Israel, Canada and Hong Kong, these virtual assistants have been in deployment for a while. Can we find inspiration in their example? What’s working and what’s not?

 

Fighting Fraud Requires Both Artificial and Human Intelligence

ZD Net

Today’s criminals are early adopters of new technology. That’s only one reason that financial institutions must consider the value of adding artificial intelligence tools to human insight in the fight against financial crime.

 

Giving AI Street Smarts

PYMNTS

Just how completely do we trust a virtual assistant like Amazon’s Alexa? Could a finely-tuned AI power your member service center? Here’s a look into the pros and cons of automated service – where it works, where it falls short, and why a poorly-staged AI takeover can be worse than nothing for an organization.

 

If you’re interested in learning more about the opportunities for credit unions to truly leverage their data in today’s digital age, please sign up to receive the next issue of THINK Review Magazine: The Data Strategy Issue.

The original article 5 MUST READS: Why 2018 Will Be Your Year for AI can be found on Insight Vault.

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