Banks Are Excited About Ai, But That Doesn’t Mean They’re Using It

Banks are increasingly recognizing the potential of artificial intelligence (AI) and machine learning (ML) to create a competitive edge, but the process of applying the technology is slow-going due to due diligence, potential regulation, and limited resources. Research from Arizent shows that while banks are more bullish about AI than other technologies, the excitement is not overwhelming. Major banks have been able to execute AI strategies, but smaller banks struggle with access to the talent and technology needed for similar innovation. Even technology leaders at larger regional banks have expressed the importance of easing into innovation.