AI is Changing the Banking Industry

There is a shift in the way customers interact with bankers, driven by AI.

This shift can be compared to a patient going to a doctor with his/her ailment, where the customer uses AI to come up with ideas which are then suggested to the bank.

In the banking industry, this is also happening because with Chat GPT, there is more data available and is incorporating AI into its services and products for customers, such as UBS, which last year launched an instant credit pilot service for small and medium-sized companies to help customers with immediate liquidity needs, which bypasses credit officers and speeds up relatively standard product processes .