On this panel, industry experts (listed above) discussed what they are most excited about in AI in Banking. We've included a short transcription of the panel, beginning at 45:50 of the webinar.

https://youtu.be/vR32-n_KCjw?t=2750

Michael Weiss, Ai4: So AI in banking… It’s 2020, what one topic are you most excited about for AI in banking? What is AI going to allow banks to actually do now that they couldn't do five, 10 years ago? Roderick, go.

Roderick Powell, Ameris Bank: I think that one of the interesting things is in marketing. I'm mostly working in finance, but I think marketing to the customers and being able to use these techniques to say ‘let's market these products to this set of customers based on training your model from prior behavior in the experience that you have with your customers. Figuring out how to target the right product to the right person, and you can figure that out by using the fit algorithm with good data.

Michael Weiss, Ai4: AI for marketing -- good, done, Eric, go.

Eric Maloney, Blue Prism: I think it's the mixture of intelligent information, what you can do with AI, ML and RPA. I'm going to focus inward. It’s going to transform work within the banks, and you're going to have people freed up to do much more interesting, innovative stuff and the things that are much more complex and mundane and error-prone will be given over to these digital AI engines.

Michael Weiss, Ai4: I'm all for it. Wayne?

Wayne Shoumaker, Wells Fargo: I think there's a couple of things. The first one that really interests me is being able to create systematic effects out of extremely higher order interactions of drivers in models where such modeling wasn't possible in the past. The other thing is the proliferation of natural language mechanisms that are used to assist customers and, along with that, an increase in and scrutiny over how these models are interacting with the public.

Michael Weiss, Ai4: I’m with it. Sri?

Sri Ambati, H2O: We started the deconstruction of the bank even before we went into COVID-19. AI and data have certainly helped banks become more like fintechs, a tech giant is trying to do finance. Banks are really challenging themselves to become like software companies and tech companies. AI is certainly going to help that COVID-19 is moving that further. Open source is helping a lot of partnerships between banks and data banks, the brands. I think the technology is coming to make them even more guardians and custodians of privacy and of wealth. I think what we are beginning to see in post COVID-19 is rapid adoption of digital banks, right?

If you read, none of us have gone out for a month now which means that what was the initial learning curve for most of my banking customers in logging into their VPNs and getting work done remotely, is going to be the new norm as it happens. And you'll see a new paradigm, a new genre, as some of our customers call it. The two types of people when they say people on the couch sitting and watching movies and TVs, people on the couch who are working 24/7. Those are the people who are changing the world. And I think it's an incredible opportunity to look at ourselves, who we are. I think AI and the digital world is going to end socially distant, but spiritually connected and it is going to challenge us to rethink who we are as humans and it's going to be a really powerful paradigm shift for us as a race.

Michael Weiss, Ai4: No doubt. I love it. And the best for last, Rajeev, AI in banking… What are you most excited about?Rajeev Sambyal: I'm actually excited about a lot of fintechs which are coming up, I think is going to change the whole landscape because that is going to drive the bigger banks or bigger organizations to either create a symbiotic relationship which is mutually beneficial to both or actually find ways to be nimble and be innovative, because that is the thing which is going to drive the innovation, right? What fintechs bring is newer technology, newer research, newer concepts, and what the big banks bring is running it as an enterprise scale, so not running it in one box in Azure or AWS or anything like that. They have the data and the capability to run it as an enterprise scale with all the risk and controls. So I think the combination of these two, I think that's what I'm excited about. I'm seeing a lot of fintechs coming up doing some really good work, and I think as we actually start doing that and start seeing the banks adopting some of that, I'm excited about that.