The AI Gap study, a PYMNTS and Brighterion collaboration, analyzes the survey response data of more than 200 financial executives from commercial banks, community banks and credit unions across the United States to provide a comprehensive overview of how financial institutions leverage AI and ML technology to optimize their businesses. To this end, we gathered more than 12,000 data points on financial institutions with assets ranging from $1 billion to more than $100 billion. This report details the results of our extensive research.
Key Findings from the study include:
- 70.5% Share of FIs that used data mining to fight fraud
- 4.1 Average number of algorithmic tools used by banks with more than $100 billion in assets
- 2.5% Share of FIs that used AI systems to enhance payments services
To download the study, fill out the form below:
April 19, 2019
Inspiration comes from anywhere and everywhere, and that goes for digital innovation in payments and commerce. Just ask Akli Adjaoute, CEO of Brighterion (a Mastercard company), who recently spoke with PYMNTS’ Karen Webster about the rise of smart agents, a form of artificial intelligence designed to bring more fraud prevention and customer service to financial institutions and other digital […]
April 11, 2019
The jury is in. Almost every modern financial institution (FI) has at least one artificial intelligence (AI) or machine learning system in place, and 61 percent intend to invest in more. The only question is: What learning systems will they choose to adopt? Among the many AI and machine learning systems available on the market, there […]
March 13, 2019
In the quest to reduce false positives and chargebacks, and boost digital commerce for consumers, Mastercard is buying Ethoca. Johan Gerber, executive vice president of security and decision products, delves into the ways the newest deal rounds out data and AI acquisitions and leads to “connected decisions” that speed and smooth CNP transactions.
February 14, 2019
Artificial intelligence (AI) and machine learning (ML) aren’t part of a far-off future. They are here, and they are at the bank. In fact, 100 percent of modern financial institutions (FIs) use some type of AI, ML or other learning system in varying forms and capacities. Today, nearly 70.5 percent use data mining, and nearly 60 […]
January 31, 2019
Artificial intelligence is making the leap from the imagination of sci-fi authors and computer scientists into consumer and corporate life. But even as the theories become reality, the general idea about AI — the lens through which the technology is viewed — often carries with it misconceptions and faulty assumptions that, over time, could impede […]
November 29, 2018
It’s said an ounce of prevention is worth a pound of cure, and the maxim can be applied to debt recovery efforts that average a dismal 20 percent. AI can help. Brighterion CEO Akli Adjaoute tells Karen Webster that true AI and smart agents form a 360 degree view of the customer that helps firms target which debts to collect at the first signs of consumer troubles.