One such example of a bank using AI for fraud detection includes Danske Bank, which is Denmark’s largest bank to implement a fraud detection algorithm in its business. The deep learning tool increased the bank’s fraud detection capability by 50% and reduced false positives by 60%. The AI...
After initial experimentation, how can banks go from proof of concept to proof of value and truly reimagine and transform the enterprise using AI? How soon, if ever, can banks see a tangible return on their investments in AI? These questions are gaining relevance as the global b...
Implement an AI-powered documentation system that automatically updates SOPs and manuals based on system changes and user interactions. Create a knowledge graph of your processing system. This will allow staff to visualize interconnections between different components and quickly identify the impact of any...
Banks need cross-disciplinary teams to implement and manage generative AI and large language models, factoring in areas like risk, business application and technology. "Hiring will be a piece of the strategy," Torrente said. "Upskilling the existing workforce will be really important as well, give...
According to IDC, retail will be one of the sectors that will invest highly in AI during 2023, after banking. Furthermore, the adoption rate is expected to double by the year 2025. Retailers are seeking the help of AI-based digital solutions to tackle challenges like changing consumer ...
Twilio Flex is just that tool. Flex enables businesses to adapt and scale contact centers to meet customers’ needs. Ready to get started? Create a Twilio account for free or contact sales today. Want to learn more? Discover how to implement AI in your contact center. ...
From geopolitics to energy security and AI to the transformation of jobs, we asked the World Economic Forum's community of industry leaders to set out their top priorities. They'll gather in London next week to look ahead ...
This was the second severe accident involving a Boeing 737MAX8 aircraft in less than half a year, following the Indonesia Lion Air crash on October 29 of the previous year.Gu, JunShanghai UniversityXu, ChunmingTongji UniversitySpringer, Singapore...
In the banking sector, for example, where digital and AI transformations have been under way for the past decade, compelling empirical data shows that digitally transformed banks outperform their peers. We leveraged a unique data set, Finalta by McKinsey, to analyze 20 digital leaders and 20 ...
Explore responsible AI strategies to implement ethical AI practices, ensuring transparency and equity in systems. Learn from industry best practices.