Fintech Podcasts UX

Is artificial intelligence the future of financial institutions?

Artificial intelligence could be the next level of innovation for fintech. John Best explores various AI concepts and discusses strengths and weaknesses.

In today’s BIGcast, I look into the Facebook chat bot as a tool for credit unions to communicate with members, and share my concerns related to its EULA, and how information is collected not only by Facebook, but by Microsoft, Amazon and other artificial intelligence organisations.

I’ve had discussions with Timothy Ruff at Evernym on how to develop a private chat based on artificial intelligence that protects member privacy. I also offer an explanation of how artificial intelligence works, including how AI services use stories, actions and ‘intents’ to learn, the learning process, and how they build their own code.

Also, how can credit unions benefit by adopting AI technology for member communications, compliance and risk management? I provide an overview of how AI works through a presentation from Viv.ai of how a machine can write its own code in real-time, and how it can continue to learn based on internal and external conversations, as well as conversations from different programs and systems.

– This podcast is reproduced with kind permission. Some minor changes may have been made to the text to reflect BankNXT style considerations, but the podcast itself is always unchanged. Read more here. Main image: agsandrew, Shutterstock.com

About the author

John Best

John Best, CEO of Best Innovation group, is recognized as a thought leader and visionary of technology advancements and financial application development within the credit union industry. He is the founder of the BIG Podcast.

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