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Chinese banks jump on AI bandwagon to cut costs
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This year, multiple Chinese banks have also been exploring the possibilities of employing AI tools to serve their customers.
PHOTO: AFP
Liu Ran and Zhang Yukun
BEIJING - Banks in China are turning to artificial intelligence (AI) to save on labour costs and improve efficiency, but the transition faces both technical and regulatory hurdles, according to experts in the field.
The worldwide AI fervor driven by ChatGPT, the intelligent chatbot developed by Microsoft-backed OpenAI, has led industries across the spectrum to start integrating these smart helpers into their daily operations. Banking is no exception.
