Understanding Artificial Intelligence Infographic

Artificial Intelligence analyzes data to identify patterns and make "human-like" decisions.

A combination of technological advancements, increased interconnectedness, and granularity of data have led to renewed excitement in this space.

AI can help meet customers' needs and generate revenue across all areas of the bank.

Lending = $2B

• AI can help expand credit access
• Improve underwriting
• Provide a more seamless user experience for borrowers

Customer Relationship Management = 42.2B

• AI can bridge the gap between digital convenience and customer relationships.
• Automate tasks

Operations = $1.1B

• AI can improve operational efficiencies
• Allow banks to each more customers

Compliance = $700M

• AI can lower the cost of compliance
• Allow banks to more efficiently meet customers' needs

Anti-fraud Protection = $700M

• AI can improve operational efficiencies
• Allow banks to reach out to more customer

Total Opportunity = $6.7B

Widespread adoption of AI does come with challenges, however:

• Appropriate regulation. Rulemaking for AI remains unchartered territory.
• Organizing backend systems into a single usable data set.
• Competing with BigTech for skilled developers and AI talent.