Report: AI Creating Big Winners in Finance but Others Stand to Lose as Risks Emerge
(WorldNews Africa)

Peter Vanham, Media Lead, US and Industries, Public Engagement, Tel.: +1 646 592 5907; peter.vanham@weforum.org · Artificial intelligence (AI) is silently transforming the back office working of banks and insurers, leading to a few big winners but putting banks that try to excel at everything in the firing line, a new report finds · Early big movers offer their AI applications as a `service` to their competitors; attracting users to accelerate their system`s learning, and turning cost centres into profit centres · Bank customers are increasingly experiencing a `self-driving` AI finance world, which may come with systemic and security risks from being centralized with a few networked players,...