Two Surprising Statistics in Commercial Lending

The future of AI in banking

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Deloitte recently released a report titled “The future of AI in banking,” providing insight into the following transformational challenge banks will face over the next few years. 

It would be an understatement to suggest that artificial intelligence (AI) and machine learning (ML) are transformative technologies. According to a Deloitte survey, 86% of financial institutions say that AI will be very or critically important to their business’s success in the next two years.

Below is a summary of key insights from Deloitte's perspective: 

  • 86% of banks will prioritize the use of AI in the next two years
  • AI will impact customer experience, customer service, underwriting, and more.
  • AI will be a critical component of a bank’s competitiveness for smaller and larger banks.

You can read the report for yourself here

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