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AI serves as the catalyst for innovation in banking by simplifying this sectors complex processes while improving efficiency, accuracy, and personalization. AIchatbots, for example, are now commonplace with 72% of banks reporting improved customer experience due to their implementation.
By observing ethical data collection, we succeed business-wise while contributing to the establishment of a transparent and responsibleAI ecosystem. Another notable trend is the reliance on synthetic data used for data augmentation, wherein AI generates data that supplements datasets gathered from real-world scenarios.
It’s essential for an enterprise to work with responsible, transparent and explainableAI, which can be challenging to come by in these early days of the technology. Generative AIchatbots have been known to insult customers and make up facts. But how trustworthy is that training data?
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