Five ways U.S. banks can tap AI to manage credit risk
Artificial intelligence (AI) has long since moved from the realm of science fiction to reality, with reports of new applications from transportation to cybersecurity emerging every day. Until recently, the technology has made fairly limited inroads in the banking sector. PYMNTS’ latest research indicates that this is changing — and fast.
AI in focus: the bank technology roadmap playbook, a PYMNTS.com and Brighterion collaboration, tracks the accelerating adoption of advanced learning technologies in the banking sector and examines what is fueling it. The playbook is based on a survey of 100 FI executives and builds on research PYMNTS has been conducting since 2018 on the use of AI and other sophisticated computational systems in banking, healthcare and other sectors.
Inside this playbook:
- 78 percent: Share of FIs that either have invested in AI or plan to do so within the next 12 months
- 86 percent: Share of medium-sized FIs that plan to invest in AI within the next 12 months
- 90 percent: Share of FIs investing in technology to make transactions faster and more accurate