Artificial Intelligence or AI is transforming the banking sector by creating more personalized customer experiences, enhancing decision-making, bolstering security and compliance, and improving operational efficiency.
According to independent reports, AI will save the banking industry an estimated US$1 trillion and by 2030 traditional financial institutions will be able to enjoy a 22 percent reduction in operating expenses due to AI across front, middle and back-end operations, enabling greater focus on high value-added activities .
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