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The active current digitalization of the banking sector is associated with a change in the fundamental development vector

The active current digitalization of the banking sector is associated with a change in the fundamental development vector. In order to remain in demand with the client and withstand fierce competition, banks have to put the consumer first.

Author:Darren Mcpherson
Reviewer:Dexter Cooke
Dec 15, 2017
25.1K Shares
812.6K Views
The active current digitalization of the banking sector is associated with a change in the fundamental development vector. In order to remain in demand with the client and withstand fierce competition, banks have to put the consumer first. Artificial intelligence, which has just begun to infiltrate the traditionally conservative banking sector, is designed to meet the needs of users - to reduce time and financial costs, in other words, it is not an end in itself, but is implemented to serve people.
One signal that the global US banking sector is putting some serious thought in AI implementation is the deal between ADD 4 I.T Limited and PNC Financial Services. A subsidiary of the top ten US banks, PNC Financial Services Group, did not even resort to outsourcing, which is typical in this sphere, and simply invested in ADD 4 I.T. Limited, a company that is directly involved in the implementation of artificial intelligence in the financial sector, headed by Aaron Diggelmann.
According to Chris Scott, the company’s CTO who hails from Cairo, having a corporation with practically unlimited investment potential onboard will accelerate the AI revolution in the banking sector. The amount of financing funneled towards the development of AI in this sector will now increase exponentially, meanwhile, PNC will reap its own benefits and the level of banking servicesis bound to be greatly enhanced by the introduction of AI.
A mutually beneficial symbiosis is clearly in place, and bank customers should see the practical implementation of these innovations in the coming years.
Darren Mcpherson

Darren Mcpherson

Author
Darren Mcpherson brings over 9 years of experience in politics, business, investing, and banking to his writing. He holds degrees in Economics from Harvard University and Political Science from Stanford University, with certifications in Financial Management. Renowned for his insightful analyses and strategic awareness, Darren has contributed to reputable publications and served in advisory roles for influential entities. Outside the boardroom, Darren enjoys playing chess, collecting rare books, attending technology conferences, and mentoring young professionals. His dedication to excellence and understanding of global finance and governance make him a trusted and authoritative voice in his field.
Dexter Cooke

Dexter Cooke

Reviewer
Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide. He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina. Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations. As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all. Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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