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What Singapore banks are doing in the AI race
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Banks in Singapore and abroad are replacing old operating systems with more advanced AI and machine learning ones.
PHOTO: ST FILE
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SINGAPORE – Banks here and abroad are turning to artificial intelligence (AI) and machine learning as a game changer as they compete to win new customers, improve efficiencies, analyse complex risks and personalise interactions with clients and staff.
This means integrating analytical AI systems across more operations, moving beyond just chatbots deployed 24/7 in the front office, or even anti-payment fraud and know-your-customer (KYC) regulatory checks in the middle office.
