AI has the potential to revolutionize the banking industry, with the potential to deliver up to $1 trillion of added value each year. To successfully implement and deploy AI projects, experts recommend a shared, centralized infrastructure for AI, known as AI as a platform. This approach consolidates expertise, productivity, and scale, shortens the lifecycle from development to deployment, and drives down total cost of ownership. AI can help banks quickly discover patterns and identify key insights, calculate risk and automate routine tasks. The most advantageous and strategic business use cases of AI for banking include anti-money laundering and identity verification, customer service, fraud prevention, meeting environmental, social and governance standards, and more.
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