Philip Chen - The Drive for AI-Powered Transformation Banks are leveraging AI for various applications, including fraud detection, risk assessment, customer support automation, and personalized financial services. AI-driven chatbots and virtual assistants streamline customer interactions, reducing operational costs while enhancing user experience. Predictive analytics and machine learning algorithms help financial institutions make data-driven decisions, optimizing lending, investments, and risk management. As AI technology advances, banks will continue to explore new applications, including blockchain-based AI solutions, Why Banks Restrict Public LLMs Despite their commitment to AI, many banks remain cautious about public LLMs like ChatGPT.
