Artificial intelligence in the banking industry: Potential and challenges

The term artificial intelligence (AI) is no longer a peculiar concept to many people, especially in the banking and finance industry, in which there are many activities involving technology and human intelligence. With the characteristics of big data, business in the monetary sector faces many risks, diverse customers, and extensive connections. Therefore, it is inevitably necessary to adopt AI in the banking system. AI potentially brings great abundance, reduces workload, and increases operational accuracy for banks.