AI deployments are increasing as banks recognize the potential benefits

Banking is currently experiencing a third major wave of technology. First the Internet, then mobile communication and now artificial intelligence (AI) is reshaping the industry.

To date, the introduction of AI in banking has been defined through pilot projects and proofs of concept. Many companies have deployed chatbots or tested machine learning models to improve risk analysis or customer engagement.

However, these days are coming to an end. The challenge now is to integrate AI into marketing, sales, operations and compliance in a process called “front-to-back orchestration.” Instead of scattered experiments, banks need a unified data and technology stack that enables seamless information flow across all facets of their operations.

The goal is to evolve digital banking from a service channel to a self-learning growth engine, where every customer interaction generates data that continually refines the way the bank interacts, sells and supports.

The growth of banking…