How Banking is Adopting and Using AI Technology | In the News

The pace at which companies are investing in artificial intelligence (AI) continues to gain momentum and the financial sector is not immune to this trend. According to research by global management consultancy Accenture, banks that invest in AI and human-machine collaboration tools could boost their revenue by over a third (34 per cent) by 2022.

Robotic process automation (RPA) that uses cognitive AI is being deployed by banks to improve operational efficiency and reduce costs, and many large finance firms are already seeing benefits.

Therefore it’s not surprising that, according to data by analyst firm Everest Group, banks and financial firms account for 40 per cent of the RPA independent software vendor market.

Read more in IDG Connect

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