CONCLUSIONBig, global banks have been experimenting with artificialintelligence for years, dedicating time, resources and staff tosolve an array of problems. Now, community banks and creditunions have the opportunity to consider how AI can help their ownorganizations — whether that’s fighting fraud, serving customersor generating efficiencies. But successful AI initiatives require fullsupport from management and should align with an institution’sstrategic goals. Care should be taken to protect customer data andensure full compliance with regulations — and regulators appearto have more questions than answers about the technology’simpact on financial services.Inquiries about our research:Emily McCormick, vice president of editorial & research,emccormick@bankdirector.comContact:Inquiries about our reprints:Andrew Pate, circulation associate, apate@bankdirector.comBank Director201 Summit View Dr.Suite 250Brentwood, TN 37027The contents of this study are copyright © 2024 andTel: 615.777.8450may not be reproduced without written permission.Fax: 615.777.8449All rights are reserved.www.BankDirector.com16 | FINXTECH INTELLIGENCE REPORT
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