New research from American Banker has found that banks and credit unions are increasing efforts to adopt intelligent automation tools. The report surveyed 153 bank and credit union leaders, with over 81% of respondents stating that the top use case for intelligent automation is customer service and support. The majority of respondents, roughly 62%, said fraud detection was either an active priority or on deck to be one in the next six to 12 months, and a further 22% said it was a future opportunity to explore in the coming years. Experts with consulting firm CCG Catalyst predict that AIs presence will expand across organizations in the near future. However, there are downsides to leaning heavily into automation, with some warning that it could damage customer trust and lead to regulatory scrutiny.
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