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ARTICLE · 01 OCTOBER 2020

Do You Want AI To Manage Your Banking?

McKinsey reported that "Artificial intelligence technologies are increasingly integral to the world we live in, and banks need to deploy these technologies at scale to remain relevant.

United StatesTechnology

McKinsey reported that "Artificial intelligence technologies are increasingly integral to the world we live in, and banks need to deploy these technologies at scale to remain relevant. Success requires a holistic transformation spanning multiple layers of the organization." The September 19, 2020 reported entitled "AI-bank of the future: Can banks meet the AI challenge?" included these comments:

Many banks, however, have struggled to move from experimentation around select use cases to scaling AI technologies across the organization.

Reasons include the lack of a clear strategy for AI, an inflexible and investment-starved technology core, fragmented data assets, and outmoded operating models that hamper collaboration between business and technology teams.

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