CIO Dive: TD Bank eyes $150M in claims cost reductions — with help from AI
TD Bank expects to cut insurance claims costs by $150 million “in the medium term” through AI deployment, vendor optimization, fraud detection and process reengineering.
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Artificial Intelligence
The Digital Banker: AI in action: How UOB is turning intelligence into impact
UOB has taken significant strides in leveraging AI through its innovative B-Score 2.0 methodology, which incorporates several AI-driven innovations.
BankingDive: HSBC names generative AI a leading investment area
HSBC named generative AI a key technology investment area during its recent earnings call.
Finextra: Royal Bank of Canada creates dedicated AI team
RBC has created a new AI Group to accelerate its take up of artificial intelligence.
eWeek: OpenAI’s First AI Device Could Be a Smart Speaker That ‘Sees and Hears’
OpenAI is now getting into the hardware business.
ScienceDaily: Scientists may have found the holy grail of quantum computing
Quantum Computing continues to advance.
PYMNTS: JPMorgan Chase Analysts Predict AI Costs Could Trigger Bank Mergers
The pace of artificial intelligence spending required in the financial services sector may force smaller banks into mergers.
CIO Dive: TD Bank US head of AI weighs in on agents
TD is seeing a good return on its AI investments.