AI is changing the face of the banking industry. How can banks meet the governance challenges and take advantage of this game-changing technology? To answer this crucial question, the Economist Intelligence Unit (EIU) and Temenos have produced this new report, Overseeing AI: Governing Artificial Intelligence in Banking
Key findings in the report include:
- 77% of banking leaders believe AI will define winning from losing banks
- COVID-19 will intensify the use of AI. This makes effective governance more urgent
- “Black box” risk and lack of human oversight are key concerns surrounding the use of AI in banking. This makes ethical, fair and well-documented AI-based decisions vital.