The Banking Industry
The hype around the use of AI in the banking industry is undeniable, and for good reason. According to Autonomous Next, AI applications could save banks an estimated $447 billion by 2023. In fact, it’s safe to say that a majority of banks across the board see the benefits this technology could bring to its workflows and already are or planning on implementing AI strategies to stay competitive.
However, with an increasingly competitive landscape, highly-demanding customers and the rise of fraud in the mortgage application process, players in the banking sector are being forced to reevaluate their current system processes and find ways to cut down processing time, protect their client’s data, and distinguish themselves in this highly-competitive market.