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Super intelligent financial services

Author

Listed:
  • Fourie, Leila
  • Bennett, Thomas

Abstract

Banking and payment services have become fertile ground for the implementation of artificial intelligence (AI) solutions to commercial problems. Financial services providers are already utilising AI to reduce costs, handle compliance pressures, and improve their relationships with customers. Nevertheless, given the extent to which AI could change financial services’ operations, it is essential that organisations consider the implementation of AI technology from a holistic perspective. This paper provides a contextual overview of the rise of AI and aims to frame AI as not simply a cost-saving automation tool, but as a fundamental shift with many potential considerations, for which the organisation must take account.

Suggested Citation

  • Fourie, Leila & Bennett, Thomas, 2019. "Super intelligent financial services," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 13(2), pages 151-164, June.
    • Handle: RePEc:aza:jpss00:y:2019:v:13:i:2:p:151-164
    as

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    More about this item

    Keywords

    artificial intelligence; ethics; responsible innovation; transformation; data; automation;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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