Role of Artificial Intelligence in Bank’s Asset Management

Banking operations have been supported by latest technology-based systems along with the traditional processes which prevailed in earlier banking era. With the large number of smart phone users, there has been a paradigm shift in increasing demand for digital products like mobile banking, Internet banking, E-wallets, etc. A common trend in banking technology is using an application programming interface (API) that enables a third-party application to use an interface through which the customer can access a variety of services. Besides APIs, technologies like blockchain and artificial intelligence (AI) have great impact in changing the face of banking industry. However, this exposes the banks to a variety of cybersecurity threats which may cause service disruptions to the customers. Therefore, this study discusses the pros and cons of these AI techniques along with their scope of application for banks’ asset management.