Friday, April 12, 2024

Big banks are in a race to get AI right

Illustration of a robot hand placing a coin inside a piggy bank with rectangles of dollar bills creating a geometric patten behind it

Illustration: Natalie Peeples/Axios

The leaders of America's largest banks are convinced that AI will transform their businesses — but they're mostly struggling to implement more than a handful of AI products, even internally, and can't agree on what counts as a win.

Why it matters: The massive banking industry is a crucial testbed for transforming the AI industry's promises into real-world results.

SIMONE, the AI that nearly took down a bank - Risk.net

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