AI in banking requires computing power that only Big Tech can provide. This worries fintech execs

AI in banking requires computing power that only Big Tech can provide. This worries fintech execs
fastcompany.com

by Reuters • 11 months ago

The boom in artificial intelligence will increase banks dependence on big U.S. tech firms, creating new risks for the industry, European banking executives said.Excitement around using artificial intelligence AI in financial services widely used already for detecting fraud and moneylaundering

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