Banks must find balance with AI in financial markets
Add BT as a preferred source
THE surge in artificial intelligence (AI) research within the financial technology sector has been remarkable. Banks are strategically cultivating ecosystems through partnerships with universities and international collaborations. Prominent players such as Capital One, JPMorgan Chase, BBVA and ING are embracing open-source collaboration to drive intellectual property development.
European banks are also making significant strides in AI research, with Intesa Sanpaolo taking the lead. Research papers authored by professionals within the banking industry span a wide spectrum, encompassing both theoretical and applied AI research.
Applied research in 2022 encompassed areas ranging from quantum machine-learning applications to innovative chatbot design and recommendation systems. Intriguingly, there is a noticeable absence of macroeconomics in these research programmes conducted by banks.
TRENDING NOW
When every phone becomes a satellite phone, what happens to Asia’s telcos?
Koh Brothers Eco Engineering faces up to S$57.6 million in potential liabilities from legal disputes
Too little, too late? Manila’s billion-dollar bid to ignite its sputtering EV industry
DayOne secures S$530 million green loan from DBS, OCBC and UOB for Singapore data centre
