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AI in Banking
AI in the Banking Sector – a Sword, a Shield or an Achilles’ Heel? Banking & FinanceFinTech

AI in the Banking Sector – a Sword, a Shield or an Achilles’ Heel?

1. Introduction We are not only living in a digital age but also in an age where individuals and businesses increasingly depend on banks for their day-to-day activities. The convergence of these two factors is compounded with the increased use of artificial intelligence (AI) both generally and specifically in the banking sector. From a general perspective, AI start-ups in 2013 received USD 2 bn in investments globally which increased twelvefold in 2018 to USD 24 bn . The European Commission is also planning to invest a total of €112 mm in AI, quantum research and innovation . More specifically, recent…
Matthew Muscat
8th November 2024