Close
The US is set to invest $120 billion in AI by 2025, with banking playing a crucial role. This investment will account for over half of global AI spending, with retail and banking together making up 28% of US AI investments. The introduction of 'Open Banking' protocols is expected to further drive AI innovation in the financial sector.
Cloud technology is pivotal in enhancing AI adoption within banking, enabling real-time data processing and innovative solutions. Companies like Infinant and JPMorgan are leveraging AI to improve customer service and operational efficiency. The shift towards a 'Banking-as-a-Service' model is creating new opportunities for banks to embed financial products into various platforms.
• US AI spending projected to reach $120 billion by 2025.
• Cloud technology is essential for real-time AI applications in banking.
Open Banking refers to the use of APIs to enable third-party developers to build applications and services around financial institutions, enhancing customer experience and innovation.
Banking-as-a-Service is a model that allows banks to offer their services through APIs, enabling fintechs and other businesses to integrate banking functionalities into their platforms.
Generative AI involves algorithms that can create new content or solutions based on existing data, which is being utilized to enhance customer service in banking.
Infinant provides cloud-based banking infrastructure that helps banks modernize their systems and improve operational efficiencies through AI.
JPMorgan is utilizing generative AI to enhance customer service at Chase Bank, improving efficiency in customer interactions.
Isomorphic Labs, the AI drug discovery platform that was spun out of Google's DeepMind in 2021, has raised external capital for the first time. The $600
How to level up your teaching with AI. Discover how to use clones and GPTs in your classroom—personalized AI teaching is the future.
Trump's Third Term? AI already knows how this can be done. A study shows how OpenAI, Grok, DeepSeek & Google outline ways to dismantle U.S. democracy.
Sam Altman today revealed that OpenAI will release an open weight artificial intelligence model in the coming months. "We are excited to release a powerful new open-weight language model with reasoning in the coming months," Altman wrote on X.
Log in
Sign Up
AI Tools - Popular
AI Tools - Categories
GPTs - Categories
AI for Jobs
Key AI Highlights in this Article
Key AI Terms Mentioned in this Article
Companies Mentioned in this Article
